Would you rely solely on SEO traffic? (blogs/magazines)

I own a blog that makes approximately 200.000 visits/month, +90% of the traffic is SEO. I checked my competitors and every one of them shares more or less the same amount of organic traffic as me (I’m talking about big magazines).

I checked a few articles today, and everyone seemed against putting all the eggs in one basket. Google could penalize me in the next update etc, but… When SEO is precisely one of my strengths, should I’d be working more on social media/ads? Do you really see it as a super risky practice? Wouldn’t my competitors put more effort on divrsifying my channels?

Thanks!

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