How does this look in implementation. When I Implemented this in multipasskey (YC demo). It would ask you to select contacts you trusted. Then it would send the sharded parts of the key in the background to them. If you need to recover, you make a request to them. It would reconstruct your device key when you got enough pieces. Once you have your device key, it would download your encrypted backup of keys from the remove server and you are back as new.
I called my project multipasskey in 2017/2018 and applied to YC with a working demo and they said nope. I'm going to assume that I sucked at selling it. ;-)