The question is: where is the catch?
Why are they less popular than say Trezor or ColdCard which are more expensive, less convenient and not very beautifully designed?
There is no catch.
I think the catch of those
cheap devices is that they're often built from off-the-shelf hardware, closed-source and insecure. There were 'hardware wallets' in the past that were literally outdated, dumbed-down smartphones.
But what makes them bad is not the fact that they're
exotic / new / unpopular, it's the fact that there is no serious team behind it and security is not their main focus.
One could honestly label Foundation Devices as 'exotic'; after all, until a couple months ago, they had only sold and shipped 1000 devices (their Passport 'Founders Edition' - it was limited to 1000 units).
While it's not cheap, it's pretty secure. So I do think price and security+quality are conflicting goals.
I wouldn't buy anything that's not reproducible, for instance. Because that means the device runs code that is not available to the public.
As you can see though, the reviews are marked 'outdated' since the latest release has not yet been verified. I encourage anyone who benefitted from their service to give them a small donation (Lightning accepted) at least, as a motivation to update those verdicts..