Like issues with uptime, risk of backdoors, privacy concerns, etc.?
Using Raspberrian Bookworm, input connection is through an ethernet cable and the hostpot was set up through Pi-Apps’ hotspot tool and is using WSA2 and password, but nothing else to note.
Not much info I could find through articles online.
As in, constant reading and writing would massively shorten its life span?
Yes. They do make long lifespan SD cards for things like CCTV recording, they cost a bit more but might be worth taking a look at. I know people running more critical systems on Pi 4s and Pi 5s will use something more durable than an SD card nowadays, like an actual SSD.