This was always a dumb idea. No different than a “master” TSA key. All it does is create a single point of failure.
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The rest of the story is that my wife and I literally have everything we own - aside from our former home that’s now a rental and our “winter home” thats rented out 7 months a year - in 4 suitcases and two carryon book bags.
If we lost all four of our suitcases, it would be a nuisance. But we could rebuy everything for less than $1000.
The only time that our stuff was mishandled was when I made a mistake and put her portable mixer (Amazon - not an affiliate link https://a.co/d/iBQivv5) in my checked bag. I could see why X-rays thought it looked suspicious. They broke the power cord.