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When your child turns 50, will the records you're keeping right now be readable?
Fifty years is a time scale that's hard to imagine when you're deep in the infant months. But if the intended recipient of these records is your child herself — the person who will grow up, have children of her own, outlive you, and eventually reach old age — then that full arc of time is the delivery window. Whether photos, videos, and text survive to reach her is a technical question, but it connects directly to why you're recording in the first place.
There is a body of research in information science and digital preservation that has been accumulating these answers for decades. What it says, applied to a box of baby photos and a cloud-backed parenting app, is worth knowing.