How many of you actually back up on a cold storage wallet?

Right off the bat, I have to say, I have been in this for a year, and still consider myself to be very much a noob still - so please forgive this if it’s “below your level” but I feel it could offer some macro insights into how many people actually trust their digital wallets enough to place it all there.

Here is the debate I’ve been hearing between two of my more established crypto buds:

1) Pro cold storage guy - “you gotta back it up to protect your investment, duh!” 2) Anti-cold storage guy - “but what happens if there is a fire or the Ledger itself gets broken, then you are f****d! MetaMask and the likes are solid enough to be trusted way more than a physical item that can be destroyed/lost.”

Maybe I just don’t know about cold storage, but I have researched it a good deal and still can’t find a solid answer. And I am about to up the ante on my investments and really want to make sure one day I don’t sign on and see my wallet emptied out, for instance, nor do I want to see my ledger is broken and i’m effed, too.

What do you all do? I feel there is something off in each of these arguments and would love if someone could break it down for me. Is there a hybrid approach, some happy medium?

(Note: I know there are articles out there that do break it down, but they aren’t conclusive from what I’ve read, with some saying one way and others saying the other way. Hence, why I came here. And please be nice, I am a fragile noob :) ).