Time machine seems pretty robust in my experience, one thing to note is that it doesn't necessarily allow you to restore to a version of the OS prior to the one the backups were taken, but it's OK working forwards with releases.
But....you can never have too many backups! The key thing with backups is that you're comfortable managing and recovering your data. I use two different time machine disks but I usually also manually backup some data to an additional drive that I plug in every once in a while.
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