A similar question was asked before but doesn't go into the detail I am looking for- Backing up Photos library to external hard drive
I would like to backup my Photos library but I don't want to use the .photoslibrary because there appears to be a bunch of meta material. If I right-click and do "Show Package Contents" I see a "Master" folder which appears to have exactly what I am looking for. Just a folder hierarchy with all the original images. Can someone confirm if this is the case? As well, what would I be losing if I go this route?