I have no idea how the secure element works, but coldcard has two of them so that's cool. 

 both of them have viable laser fault injection attacks meaning you only need the expensive (probably $300k max) equipment, but that’s nothing as you can reuse it for as many wallets as you prefer 

 both of them are IoT grade shit (and at least one lacks any CC certification) that don’t have the same basic protections as any credit card within the last 15 years 

 Ledger Donjon hasn't managed to break the MK4 yet, and I guess they have all the nice equipment. Seems like the most secure hww that is currently available imo.
https://www.ledger.com/blog/category/donjon 

 yes, they have, the SE2 used by CC Mk4 is broken (source: Coinkite), and SE1 also has been broken (source: a talk by the Ledger Donjon team) 

 Missed that, sounds interesting, need to watch the talk👀 

 Even if it is single one it makes a difference. When there are 2 of them (from different vendors) then they can play with MCU in quite complicated set.

More here
https://blog.coinkite.com/understanding-mk4-security-model/

And also if you prefer Guy’s read
https://fountain.fm/episode/5kdybDzg6HJHLxEajAyS 

 both SEs are vulnerable to laser fault injection and lack basic protections that has existed in any credit card for the last 15 years 

 Multi-vendor geo-distributed multisig is best.  Finding all the devices is a tall order vs cracking an SE.  After all, they're just signing devices, not "hardware wallets" 

 Why use a HWW then?

You need to store the seed backups somewhere, may as well use SeedSigner with the seeds 

 It's the most vulnerable part and hardest to get right