Sure it does if you use redundant storage like cloud. Of course that also has downsides, but I find encrypted cloud backups a solid solution. I personally use pass + encrypted git backups with 3 yubikeys (1 primary, 2 backup, all of them using ECC ciphers for encryption and auth).
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Any security-conscious person backs up their password manager.
A lot of things get done asymptotically close to the True Scotsman singularity.
Stored encrypted of course with a long password...
My response was in regard to the bitrot argument.
Backing up software isn't going to help against it bitrotting away.
Sure it does if you use redundant storage like cloud. Of course that also has downsides, but I find encrypted cloud backups a solid solution. I personally use pass + encrypted git backups with 3 yubikeys (1 primary, 2 backup, all of them using ECC ciphers for encryption and auth).