Let's not forget they also fired their co-founder aka reddit evil moderator BTChip for doing ''amazing'' work in last few years

That guy was toxic.
If you asked questions on the Ledger sub, he would respond by lying. And if you quoted him, he'd cry foul and then ban you.
Here's one of my favorite BTchip quotes. He was asked if there are any backdoors in Ledger's code. He said:
Note that he removed the reply to his comment. He then edited his comment and added a disclaimer saying he was quoted out of context. So, hey BTCIP! In case you see this, here's the context:
QUESTION: "Is there a backdoor? Yes or No"
BTCHIP: "There's no backdoor and I obviously can't prove it (because it's not possible to prove a negative)"
Noooo... he can't prove it because Ledger's code isn't open, which means they can't prove anything. Is their code even safe? They can't prove it.
Here's another one of my favorite BTchip quotes:
Notice the date on that quote. May 14th 2023. How long do you think they'd been working on Ledger Recover by that point? "Recover" is a huge undertaking that includes Ledger working with other companies (because 3 companies will hold extracted seeds from Ledger wallets). How long do you think it took to come up with that plan, negotiate deals with the other companies, finalize those contracts with the lawyers from all three companies, not to mention writing and testing the code.
Seriously, how long do you think it took to do all that work?
I guarantee there are signed documents for Recover from long before May 2023. I bet there are signatures from 2022, not to mention emails, texts and other electronic data.
So, long after Ledger was working on a system for key extraction and recovery over the internet, BTchip was still saying keys never leave Ledger devices.
How is that not fraud?