I was considering it but I can already imagine the time losses that would pile up for me over the course of a long building project. Their will come times where you need to get that pixel-perfect free-aim placements and trying to find the perfect spot to stop flicking your sticks will be much more tedious than it needs to be. In these situations a lot of people like to adjust their position with their left stick to correct the thing they are trying to do with their right stick and if you're in a high up place you might just invite a very avoidable accident or two.

Similar time problems can arise with bow usage. Sometimes a split second late can be the difference between killing a bird for its feathers, or having to find a different bird. But that's one of the less critical cases. With no rapid-fire weaponry combined together with the minimal selection of enemies that come with a long time-to-kill, sustained tracking with the help of aim-assist wouldn't be as impactful or beneficial here. Even the enemies that do have large HP pools are pretty slow and thicc anyway. It's those small and fast enemies in the later biomes that stand the most chance of messing you up if they happen to see you before you see them.

For stuff like foraging, mining, melee combat and basic navigation I'm sure each input is about equally on par. As others have said, their is no reason why you must commit to one. You should just as easily be able to pick whichever device feels right for that particular time.

tl;dr Easy game either way. But if you have transferrable skills with both inputs, m+kb will be faster and quite possibly the more relaxing choice for that reason alone.