It's far better to not have a general purpose OS when it's totally unnecessary. Only a tiny embedded application with thousands of lines of code, not millions, is needed. Running that tiny application on top of a massive general purpose OS would be a step backward in every way.
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Traditional security keys store keys and having those encrypted with a passphrase entry requires exposing the passphrase to the attached computer. Similarly, there isn't a great story when it comes to recovery / backups. I'm not knocking it as an implementation of that model.
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It looks like a good option for importing an existing key that isn't easy to replace, which isn't something a Trezor can do since it's not a storage device for keys but rather a device for generating them from a stored high entropy seed and entered passphrase.
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I'm only saying that I prefer a better approach to the traditional key generation, backup and HSM model for new keys. I need to have backups and I don't want to ever expose my keys or passphrases to a computer since that defeats a lot of the advantages of using an HSM.
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