Disclaimer: Author to a competitive k8s backup solution.

I personally don't think Velero is a solution for production workloads or anything serious. Only an established backup company/devs will have expertise to implement and handle all cases and take care of all data loss scenarios. Ideally k8s authors should have stopped at providing a tool (they have snapshots like any db/fs) rather than writing their own backup piece. Unfortunately many of the industry solutions are wrapped over Velero except a few (two?), one I implemented from scratch for Commvault.