Well I just checked their site and they claim that even if your ring gets misplaced or lost, you do not need to worry as it is bind with your biometric information and no one can steal the crypto.

I don't know how this works and how secure it is but since the ring can be misplaced more often as it is with you all the time, even if you are sure that losing the ring will not lose your crypto, still buying a new ring again and again for 84$ is still expensive    (assuming that ring is more likely to get misplaced more often as compared to a hardware wallet stored in a safe location).