I was using this once and I see it's a good way to export our wallet to metamask and do some payments in casinos, gambling sites, games, DEXes etc. As this use it's safe, but to store cryptos for long time I think it's too much time and there are free options to create all these wallets which accepts all Ledger Nano S cryptocurrencies ( for example Ian Coleman BIP 39, generated seeds can be imported to Ledger Nano S). Good is that Ledger Nano S has simple instruction how to use it, so newbies can use it for their own without help.