Ledger seems that is giving you a service to recover your private key in case you lose it...it is a service that is optional but some people believe that Ledger company has your private keys already and that's why they are offering that.
Also, Ledger is not an open software which means that you cannot audit it.
BitBox has 2 kinds of HW, one for Bitcoin only and another for multi-crypto
RE: How do you store your coins MAINLY?