Not going to argue about the attachment technique, but no matter how good the riveting/fastening is, please understand that anything protruding from the case may catch against something. Your bag sees quite a bit of dragging and rubbing against various surfaces. I fear that the stamped steel and the 2 rivets will act as a claw (or fangs) and rip/crack your case.
In my travels, I've never had personal luggage tags on my bags. Are you concerned with losing it? The airline puts a fairly strong tag on the handle, then stick another bar code on the surface....
If you must have a tag, and if the case doesn't already have a plastic insert somewhere to insert your identification card/paper/label, then use one of those plastic/leather ones and attach it to the handle instead.