Is it bad to keep all your money in a savings account?

Isn't it risky to keep all your funds in a savings account? Don't you think that you're missing out on potential growth opportunities by not diversifying your investments? Don't savings accounts typically offer low interest rates, meaning your money might not grow as much as it could with other investment options? Are there any other downsides to keeping all your money in a savings account that I should be aware of?