What do you think banks do? When you store a -lot- of value like a pile of gold bars, you are going to need more than a foam and aluminum hotel safe.

For me as a consumer, storing money in a bank is far simpler and more convenient and more likely to not get me burned than it is to store various hardware tokens with various banks (having to physically retrieve them when I actually want a purchase).

So, if the only way to secure BTC is to this cold wallet dance, then it's clear BTC is not a usable store of value compared to USD.

The only way to secure a -lot- of BTC. Or you can pay a custodian to do it for you. You have the same options as cash.

Most people do not store millions in cash or gold at home.

No, I was attacking your idea that it's somehow common sense that the best way of storing BTC is by working with multiple banks (!!!) to store various key fragments, by showing a more extreme version.

Of course, if someone did follow your example, and then the government compelled the banks to hand over access to the physical tokens, other people similar to you would come out and say "not your keys, not your bitcoin", or insist on even more byzantine forms of secret protection.

Not to mention, with your proposed scheme, actually using your BTC becomes significantly slower than any international bank transfer.