Google Takeout is not designed as a backup solution, but it can theoretically be used for these purposes. Google Takeout was created by an internal engineering team known as the Google Data Liberation Front as a means for users to simply extract their data from within Google products, regardless of motive.
Thus, Google Takeout provides a copy of data that could be used for restoration in a data loss event, though maintaining such a process — especially within large organizations — is impractical and comes without many of the functionalities and capabilities afforded by modern backup solutions.