I wouldn't trust it that way, no. They might last decades. They also might not. It's a gamble on any single drive, or even a few mirrored drives.
File system also matters. Modern ZFS has error checking that can handle some level of bit rot. Older formats generally don't.
If it's over 7 years or so, I want to get the data off of there.
Magnetic platters absolutely do break down from sitting around. Bearings and other mechanics can also go bad. For those things, a professional recovery operation could still get the data if you're willing to pay, but the drive itself should be thrown out.
Edit: keep in mind that with bit rot, the drive may superficially function just fine. Your data may even be 99% correct. That 1%, however, could cause unrecoverable problems, such as videos that glitch in the middle.