You can get also locked out of your phone
You can get also locked out of the email that you actually use for signing in because you can never remember the password and they stupidly ask you to change it every 6 months with bizarre constraints
You can get locked out of your password manager
You can get hijacked
The business you're signing into can go under
The odds of these things happening are to be weighted against each other
Yes you shouldn't use third-party sign-in for the bank account that holds all your money (though most consumer bank 2-factor authentication mechanisms, sadly, rely on third parties such as phone and email provider)
Yes it's also ok to use third party sign-in for the odd website that you don't care about which somehow insists on asking you to create an account
There are no absolutes in security risk management </>