Straight up bold face lie. The security risk is that malicious governments and dictators now have the ability to use systemic forces to steal your bitcoin. I wouldn't even be surprised if a foreign government/dictator could get access to your keys. They can get your transaction history to find who...

Any device or software with a recovery mode or password reset etc. by default has root access (i.e. full access) to your account/keys. The price you pay for convenience and outsourcing responsibility.