Less reliable than a SATA drive certainly, that's why people concerned with maximum uptime should mirror them (ideally with two
different well-known brands) - and updates are a fair bit slower.
If you have a self-powered USB enclosure that can support a small 2.5" SSD that might be another option; you'd still have the USB quirks to deal with (slower interface) but the media itself would be far more reliable.
Good to know you caught the BIOS issue. Nasty piece of work on Dell's part.
As far as the "24x7x365" bit - there's always the potential for a failure, and honestly the odds of a fault in a mirrored USB boot vs. a single SATA boot is probably pretty similar, all things considered. Personally I'd be comfortable with two good-quality (Sandisk, Crucial, etc) USB drives in that scenario; just make sure you take config backups regularly and keep them somewhere external to the box, monitor your SMART alerts and make sure to pay close attention if your freenas-boot pool throws an alert.
The other option is to install another HBA or a PCIe-to-M.2 adapter and drop another card in there for boot.