This is the point though. They have beefed up my Epic Games library to the point where if I got banned from Steam, I would have a viable fallback.
That cannot be understated. It has a network effect and makes adopting it as a new platform versus a legacy one with two decades behind it, far easier to adjust to.
I love that at least someone is really trying other than MS with their poorly supported windows games store attempts.
Absolutely. But if someone got you in one of those steam inventory scams or stole your access token, it sucks if you lose your entire game library and have all your eggs in one basket.
So having a bunch "backed up" so to speak with Epic gives some peace of mind. VAC bans aren't common for most users, but they do make mistakes sometimes.