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I don’t think that iOS would allow for keylogger on non-jailbroken iPhone even with side-loaded app, there’s still sandbox working. While no one denies that AppStore increases security, it doesn’t mean there will be no signing or sandbox anymore.
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No reason a local exploit would be required to install a third party keyboard and grant it the required access. If you were allowed to install apps from anywhere, then you could install a keyboard doing this. iOS does already have a limited way to sideload apps for developers.