"only by a nation-state"
This ignores the possibility that the company selling the solution could itself easily defeat the solution.
Google, or another similarly-capitalised company that focuses on computers, could easily succeed in attacking these "user protections".
Further, anyone could potentially hire them to assist. What is to stop this if secrecy is preserved.
We know, for example, that Big Tech companies are motivated by money above all else, and, by-and-large, their revenue does not come from users. It comes from the ability to see into users' lives. Payments made by users for security keys are all but irrelevant when juxtaposed against advertising services revenue derived from personal data mining.
Google has an interest in putting users' minds at ease about the incredible security issues with computers connected to the internet 24/7. The last thing Google wants is for users to be more skeptical of using computers for personal matters that give insight to advertisers.
The comment on that Ars page is more realistic than the article.
Few people have a "nation-state" threat model, but many, many people have the "paying client of Big Tech" threat model.