Yeah this is not even remotely a crash. Even laggards who bought anything in late 2020 are still in profit. Anyone who bought anything pre 2020 is wildly in profit.

In 2008, SPX eventually crashed to 700ish - a level it had last seen in 1997. A whole decade of investor wealth was wiped out

Right now, we haven’t even seen the pandemic era wealth wiped out. This is honestly a paper cut compared to a proper 2008-like crash