I believed they lied about not having a back door and now found out they do. And also being closed source who knows what can be taken by them. But any hardware wallet service can deploy a new software update and take your keys as most people do not know how to verify the source even if it is open. And if people do find out they will do by other people who have checked it and by that point a lot of keys may get stolen if something or someone decided to go rogue at the respective hardware company. I believe this cannot be applied to all hardware companies due to the design of the device.
Well, up to some extent, you still have to trust your hardware wallet provider and there are plenty of manufacturers that did not BS'd their way like ledger. In short there are better options.
I do hope most of the community haven't succumbed back to ledger as that wouldn't send a good message. It's safe to assume other manufacturers are also watching the scene unfold and imagine if ledger recovered + gained more market especially on their cloud backup side business, what does that say?
