One thing I really like about tools like ZSH, Vim, and tmux is they have setting files that live in your home directory named “.vimrc” or “.zshrc”. I would love to have a “.sublrc” / “.sublrc.keybindings” file in my home folder so they aren’t so buried in the Library folder and could be lumped into a dotfiles repo.

You can keep your sublime User directory in your dotfiles repo and just symlink it to where ever ST want it to be.
Sublime settings is not just two files. just like vim settings is more that just .vimrc it’s basically a folder with a bunch of different files and folders.