blackbeam

Thanks for the detailed comments, I think this is what we need for a proper discussion, instead of those non-sense comments.

I'm the OP, and I'm not referring to any specific wallets of any kinds.

"I'm sure there is a world where the best way to store crypto is with a distributed service, rather than a wallet."

I think you've nailed it.

The best place to manage your private key / seed phrase could be the blockchain itself, as it is decentralized, distributed and open.

Yup, next generation crypto wallets could come from

1. Large companies

2. Large open source communities

3. Some existing wallets could continue to grow and pivot

Which one would you prefer?

People lost their assets on FTX, I personally lost some assets on OKCoin.