I think you should be more cautious about relying on the services of a company like Google that can arbitrarily decide to remove your account data or access. Similar, though the person was fortunate enough to regain access: https://hey.paris/posts/appleid/
You can mitigate hardware failure and data loss, especially for a simple key, but you may not be able to prevent Google from deciding your account is gone one day.
I think you should be more cautious about relying on the services of a company like Google that can arbitrarily decide to remove your account data or access. Similar, though the person was fortunate enough to regain access: https://hey.paris/posts/appleid/
You can mitigate hardware failure and data loss, especially for a simple key, but you may not be able to prevent Google from deciding your account is gone one day.