The recovery key covers only one type of risk: Vault password forgotten, which means that the recovery key is another secret that needs to be saved somewhere else, which creates another risk.
A backup strategy makes a recovery key less essential.
Consider this backup strategy:
Backup A is the strongest argument against needing a recovery key. If you lose the vault password but still have a current APFS-encrypted copy of the decrypted contents, you can create a new Cryptomator vault and restore the files. No recovery key is needed.