No, but if you backup more frequently (e.g., hourly instead of daily), we strongly recommend creating full backups more frequently - daily or weekly instead of monthly (I.e., the default).

The reason is that long backup chains are inefficient and more vulnerable if something goes wrong as links in the chain depend on one another.

Sorry, if your server is gone (e.g., terminated EC2 instance) nobody can help you. Next time either save an escrow key somewhere[s] safe or don't set a passphrase.