Lack of clear standards was indeed a problem. But the new SSKR standard is here to solve that. While it's currently not widely used, there are multiple implementations available in case one project shuts down. And adoption will probably improve over time (it's a very new standard).
Trezor and some other wallets are using Secret Shamir Sharing for years but I don't see general acceptance from community like it happened with their BIP39 proposal.
I doubt this is going to popular with one universal standard, because there are clear flaws in this concept, so it's more likely we are going to see something totally new instead.

I prefer multisig setup, so my question is does Airgap wallet support multisig setup and can it be combined with Electrum and other hardware wallets for this?