If your hardware wallet dies it should be merely an inconvenience, since your seed phrase can be restored to another device. Since it's an open standard, it's even portable between device manufacturers in case one goes out of business.
Your second concern is valid - choose a device that's been audited.
By the same companies that audit crypto banks?
No? A hardware security audit is completely different from a company financial audit. Use your head.
For cold storage, I think hardware wallets are unnecessary and add risk of the supply chain of that device. Those manufacturers are good at marketing what they sell.