What is against having multiple users sharing a single S3 tenant?

I’m looking at setting up Duplicati for a couple of family members to have off site backups on my server. I am using minio as S3-compatible backend. If multiple backups use the same minio tenant, nobody can see one another’s files as everything is encrypted with a different key. But theoretically they could login to the tenant in another way and destroy/delete each other’s backup. Are there other disadvantages of using a single tenant?

I’m no Minio expert, but I would think that putting each user in their own bucket should keep users from seeing each other’s archives.