So, let me get this straight: they're gonna take our recovery phrase and split it up, sending encrypted pieces to these custodians without giving us a choice?
All correct except the last part. To become part of their revolutionary seed sharing solution, you have to subscribe to it somewhere, give your consent, and agree to pay those $9.99 per month. So, you don't have to use it. It's just an idiotic option they give you. I wonder why the Nano S Plus isn't mentioned? Maybe we can expect that in the release notes for the new S Plus firmware.
I'm still pretty skeptical about all this. Has Ledger put out any official statement or something that says the seed phrase won't be sent anywhere unless we subscribe to their monthly plan? However, even if such confirmation exists, we should still question whether we have any means of independently verifying this claim or if we're simply relying on their word. The mere possibility of the seed phrase leaving the hardware device and potentially being accessible online, in any form, undermines the fundamental purpose of a hardware wallet, which is to serve as the sole custodian of our private keys.
You subscribe there in order to backup your keys?
No, you subscribe there for them to back up 2 out of 3 shards of your recovery phrase. If you lose your own, the 2 shards stored by 3rd-parties are supposed to allow you to backup your wallet.
From what I understand, all three shards are being backed up by either Ledger or third-party custodians. It might not seem like a huge difference, but it does make the whole process a bit less secure. With three pieces of information "out there", if someone gets their hands on just two of them, they could access your coins.