Ledger Panic Switch Reasonable?

So ledger can exfiltrate your seed if you opt into a firmware update. And they're closed source, so we dont know what previous updates did. Then every ledger should be considered compromised and panic switching is best practice? Am I missing something because I dont see prominent people panicking.

Edit: To be clear I am not worried about my own coins. More about the entire space. Any better way to bring crypto down than blackmailing a Ledger employee?

https://twitter.com/0xgodking/status/1654381968140713984?s=46&t=bQA6MtktO8Vi8fRvVVFB3A