Take these 2 scenarios:
- 24 word seed phrase, split up into two (12 words each) chunks, and stored in separate, secure locations
- 2 of 2 multi-sig, the seed phrases stored in separate, secure locations
It seems like the first option (splitting 24 words into two 12 word chunks) would give you the benefits of the 2 of 2 multi-sig, without the multi-sig complexity.
What am I missing?