I've never been suspended, but if I were, I would be able to recreate most of my digital life from that backup, and either create a new Google account or move my business elsewhere.
Nobody I've met has ever had their main Google account permanently suspended. There are stories of it online, but I suspect it might be a vocal tiny minority (I'd be pretty vocal if I lost my online life too!). I suspect most of that tiny minority are either doing really evil things, or have malware on their machines doing really evil things with their login.