It's a shame key escrow has become a tainted concept, mired in "government has my keys" because a mechanism to store offline a cold copy of keying material and recover it is a good thing to have available.
Also solved by on-prem secrets and password managers without cloud features or dial-home.
Trusting a new third-party with their new and likely unproven construction is a recipe that has failed spectacularly over and over again.
It's possible, but it's very, very difficult and, like email or DNS, becomes a kind of commoditized utility that rarely/never changes.