The risk is always there no matter if you are talking about bitcoin or any other asset when you are walking on the street there is a chance for your phone to be mugged and there is the same situation for many other things such as the car and physical wallet but regarding bitcoin, since you can save your assets on the wallet you have better chance to hide your private keys or recovery seeds to access your account, and is you leave in bitcoin security you know none can have access to your wallet unless you share your private keys with them which can bring higher security.
Lol it's useless, the fraudster who robbed your phone already have full access about the wallet inside your phone, how hiding private keys or recovery seeds is the way to prevent that's attack? It's just prevent from anything except $5 wrench attack.
Do you think if the fraudster holding a gun and ask you about your private key, you will just shut up your mouth and not tell it to them? you will get torture by them and would force you to tell your private key in order to make your life safe.