I’d be careful which pin you use for power. I’d say your going to want to use VBUS, and draw power right from the USB power supply. The 3.3V out pin has a current limit.
If you have a long strip with lots of LED’s, your going to want a beefy power supply to supply enough current to power them.
I do not use any terminators with Neopixels. I’ve got a 1 metre - 30 pixel strip and use an external power supply. Do not forget the join the GND on the strip to the GND on the Pico. Works very well.
Have fun.