Looks like it.
OK, it’s a fair question. It isn’t always obvious
a) what conditions need to be met before it is safe to back up some file with arbitrary, opaque format
b) whether a vanilla copy of the file is adequate to back it up
In the spirit of Linux, you can do your own testing and checking before you commit too much real information to the keyring.
Straight off, I can see that each keyring contains its own name (bad?!) so that means that if you use
cp to make a backup then it might be that the copy can only be restored by restoring it to the same original name and the copy might not be usable under the name of the copy.
Of course you can download the source, understand how it all works and then formulate your own answers - but few people have the time for that.