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There’s a balance between convenience and security and IMO storing both on 1Password is fine. An attacker getting into your 1PW account would require them having
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your username
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and your password (which should be unique to only 1PW)
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and your secret key
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or physical device access with your 1PW password or biometric auth credentials
in which case an attacker really wants your stuff, has your device, and you have bigger issues.
I feel like this is similar to saying “is your front door lock strong enough?” when a thief is at your door and really wants to get inside, regardless of level of effort required.
I can’t speak for the weekly refresh since I have a Apple dev account (which changes the refresh to 365 days) but altStore and altServer on Ventura works just fine on my iOS 17 phone