Ideally: off-site backup and archive-tier object storage in the cloud.

The loss of your vacation photos will be less of your worries

Honestly for many people that is probably not true as long as everyone is safe. Most things are replaceable, but those photographs probably are not.

Yes. Photos are often the most irreplaceable non-living thing that many people accumulate. How valuable they are does vary, but for many there will be at least some that are priceless.