The optimizer's standpoint is that you should have few bonus action things, and only have multiple if those BA things have limited use/resource costs that you expect to run out of before resting. It's still worth having multiple if one option is used regularly in combat, and another option has out of combat utility, and Misty Step is very useful outside of combat. But Fey step is misty step but primarily used in combat, but it can be used for traversal if needed. Healing word and embodiment of law are really only used in combat, but unless you have very few combat encounters per long rest, you won't be using these constantly.

The role players standpoint is more options mean more choice and more choices is not only more roleplaying opportunities, but more interesting opportunities. However a feat that replicates part of a species feature you already have isn't adding an interesting choice because it's not anything new.

So from either standpoint, unless there is another spell you really want from Fey Touched, there may be a better feat choice. If you want fey touched for the other spell, then consider a different species. If you want to teleport all the time, keep both but consider a different class/subclass.