been exploring around that scenario, they do give you an "emergency access kit" with a link to the apk file for android in case it becomes unavailable, but...

in order to recover your wallet with a trusted contact you still need a confirmation email / sms confirmation (relying on bitkey hosted servers).

so the scenario where you lose your wallet, your phone and bitkey servers are down, you'll lose your keys (it's an improbable scenario but still a loophole) 

 How is this different than the Ledger Recovery service everyone hates? So, if I understand this correctly, the company is the sole custodian of your seed phrase in the end?  

 No they are not, you are the custodian but they provide different recovery options to make it easier if you want them.