The alternative is the exact same scenario, except that the percentage is several orders of magnitude lower, right?
The small subset of your users that explicitly opted-out of 2-factor authentication (if you allow that) and who try to choose "Password1!" with a second exclamation point when your site said "Error, your password has seen 83,000 times in password dumps, please use a unique password" will still get hacked.
Or is your expectation that no one will attack every user on your webapp with a credential stuffing attempt if they see that the probability of success is 0.001% instead of 1%?