It absolutely does not do that by itself. As proven by other secure implementations with more user friendly approaches to entering encyption keys.
It's also funny how demanding on use of phone numbers, shoving in crypto currency and demanding everyone to use out-of-date Electron app is somehow fine, but making backups user friendly is suddenly a massive "security" issue.
This is the BS security theater I despise at Signal. It's the software equivalent of having every single airplane passenger take off shoes.