I don’t know about privacy, but the lockout risk doesn’t seem worse than losing your phone or Yubikey. You should have multiple independent ways to log in for any account you care about. Passkey will be one way.
Possibly two ways, if you have both Android and iOS devices and you register both? (I assume Android and iOS remain independent.)
Possibly two ways, if you have both Android and iOS devices and you register both? (I assume Android and iOS remain independent.)