The hardware wallet is closed source (AFAIK) so there's no way to know how your keys are stored/encrypted on the device. I really hope open source alternatives win for the good of the crypto/Blockchain industry.
Who need a closed source hardware wallet?I can use an open source non custodial wallet like Electrum wallet, and set up a multisig wallet with Electrum or a cold wallet with Electrum. It is safer than using a closed source hardware wallet.
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Who knows if Ledger is bound to die soon? Just my opinion 
They are losing customers. Closed source, and their Ledger Recovery Service broke basics of a good wallet.