Given that Shamir secret sharing exists, it seems like this should be a problem you can turn around on the user though: instead of just "we'll keep your keys escrowed" it should be "please nominate N trusted friends to recover your keys" with an option (that is highlighted) to let the company be able to do this too.

There's a heck of a lot here which generally feels like a problem where the user isn't ever adequately briefed on what's happening and why, and isn't given reasonable options. People are very familiar with the idea of giving a house key to a friend, but for some reason we don't offer the substantially better options we have in this regard when it comes to encryption.