Everything has tradeoffs. For long term storage, your first two points aren't applicable. 1. You can do it offline and bring your own entropy 2. Most weather can't get through a block of concrete 3. This is valid risk and needs to be mitigated.
Fair point with the key generation. With the single location, I wouldn't be comfy when I need to be. Think about being in 1900 in Europe and trying to find a single secure location where your kids would always be able to access it in time of need for just a next 100 years... Probably more than 95% of land mass or fakilies had some heavy access restrictions put place on them at least for some period during that time. Usually in the most crucial period.