A quarter mil is a lot for a person. It’s not a lot for a business, and businesses were most of SVB’s clientele by asset amount.
But if you have more than one payroll, then you should consider that bank failures and other risks are part of the system and spread your capital across institutions so that no one failure wipes you out.
Risk management and "accountants that hate life" are some of the overhead costs of significant assets.
SVB's clients will not lose all their money - their assets can cover most of it. You mostly just need the second bank to cover the period in which you may not be able to access your money.
You never know when some weird, once-in-a-lifetime stuff is going to hit your bank. Learned the lesson the hard way when I ended up stranded in the middle of nowhere without a working debit card for a damned IT outage.
There should be no reason not to run a company the same way.
When the unimaginable happens, you can easily get bridging finance on the strength of your insurance (if your insurer is not responsive enough for your payroll dates)