If you are a business or in a partnership multisig just makes sense. But for "most" individuals it is probably overkill. I think most people are more at risk of locking themselves out of their wallet than a hack. Especially since a single seed can become infinite backup wallets, saving wallets, for the kids wallets, decoy wallets all with just a different passphrase. If someone is threatening physical harm for your wallet then give it to them. They don't have to know about the other 20 ones you have.