Theoretically, hackers can make a patch for Ledger Live to intercept the encrypted Seed, which is divided into 3 parts. Of course, without the decryption key stored on the Ledger, they can't do anything.
How can the encryption key be stored on your Ledger device, if you can recover your crypto on any other Ledger HW of your choosing? The other devices can't hold your encryption key. The original hardware device maybe, but it looks like Ledger gets a copy of it. How else do you explain recovering crypto on Ledger #2 if Ledger #1 that encrypted the shards is no longer working/in your possession? Either Ledger has the keys or the encryption key is also somehow shared among all custodians.
To name just a few of them like Passport (around $200), Keystone (around $100), and maybe even others that are cheaper and based on Trezor code but with secure element.
A secure element like in the Ledger or a similar chip that relies on whether or not the developers write the necessary code that makes code extraction possible? The one good thing in all this is that Ledger has proven that secure elements are not to be trusted and aren't safe. Not in a Ledger or any other hardware wallet.