Moon on Nostr: My biggest question about Bitkey (bought 2 when it was on flash sale for $25 dollars ...

My biggest question about Bitkey (bought 2 when it was on flash sale for $25 dollars but haven’t used it yet)…The materials suggest that your keys can be recovered in a catastrophic event where you lose your phone and your HW device via trusted contacts. I take that to mean, assuming to set up trusted social contacts, that the trust social contact will have a copy your mobile key (which I understand will only have certain permissions) on their iCloud. And so then in hard loss event your trusted contact helps your recover your mobile key and then you initiate the HW replacement flow and use your mobile key and the Bitkey server key to transfer your funds to the new HW wallet key. Is this the correct understanding?