Don’t worry. There is no no need to stress 
it takes once (count=1) 32 byte (bs=32) (=256 bit) from the output of /dev/random and puts in /root/random_data_keyfile1.
/dev/random is the random number generator of the kernel. This means, it is arbitrary numbers that are output by this generator and at the best, they have no structure that can be predicted or so (which obviously is the major disadvantage of human made passwords). The random number generator of the kernel can be considered a secure one, and it is unlikely that any attacker would be able to predict its output. With dd (but also with other commands), you can take as much random numbers from this generator as you want. And these random numbers are then used as content for the key file.
I assume you use a key configuration/setup that involves dm-crypt/luks2/cryptsetup. This allows you to use multiple passwords and/or key files. Each is on itself able to decrypt the device. So you need any one of them to decrypt, never all. If you currently use a password and you add a key file, then you need either one of them to decrypt. For the device, both are the same: each (password or key file) is a way to decrypt the actual key of the device, and then the actual key of the device is used to decrypt the device (your password or the key file just encrypt/decrypt the actual key for the encryption/decryption of the device, they are not themselves the actual key for the device).
You can keep both the password and the key file, so that you can use both to decrypt. This, for example, can help to still decrypt your data with the password if you loose your key file, and vice versa. But you can also remove any one of them: cryptsetup will accept adding and deletion of passwords/key-files as long as there is at least 1 variant to decrypt remaining after the deletion. I don’t know if that has been updated in the mean time, but I assume the limit of passwords/key-files is 32.
I already wrote it above, but want to highlight that if you remove your password after you added the /dev/random-derived key file, you will depend on this file, and if it gets lost, your data of the device is lost too. So if your password is secure, and if you can remember it, then it is a good way to mitigate that risk. On the other hand of course, if there is a key file AND a password, any potential attacker would need only one of the two in order to get access. Typical security compromise 
This link refers to a setup of luks1. If you use Fedora, I expect you already use luks2. I presume that the command is still the same, and the command is formulated in a way that does not alter the standard attributes (which your Fedora correspondingly will do itself based on current standardization). So I presume that is fine. But you might want to verify it before going to an irreversible production case. Arch wiki has good documentation of cryptsetup/luks2, but that is quite detailed and technical, but there is much available on the Internet about cryptsetup, and maybe arch wiki is sufficient to verify the commands. I remember that some commands have been replaced in the past years, but the old ones are still accepted I think, only with a warning or so. Or just man cryptsetup
. Anyway, I just wanted to raise awareness.