One domain - multiple DNS providers = DNS redundancy, right?

Hello fellow LET members,

I have a simple question that I want to hear your answers for in order to validate my own thoughts regarding it.

I have a domain "mydomain.com" and multiple DNS providers "dnsprovider1.com" and "dnsprovider2.com".

In my domain registrar panel I have setup the domain to listen on ns1.dnsprovider1.com, ns2. dnsprovider1.com and ns1.dnsprovider2.com, ns2.dnsprovider2.com. On both DNS providers I have setup the exact same records.

If I did it right this would be a great DNS redundancy, right? In case dnsprovider1.com goes down dnsprovider2.com would take over.

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