Should we be scared? [asked in all seriousness, not as a quip.]
I hope someday if life becomes multi planetary, there will be a way to just step away from any fight and just go live wherever you want to.
Yet you need to acknowledge, that the risk of nuclear exchange isn't 0%, just for the fact that the weapons exist, and that is completely out of our control.
Russia is doing what it wants, and they've been escalating this war since the invasion started in 2014, so it's not like they don't have agency and a mind of their own.
No one is trying to annex Russia, there's no external existential threat to them. Could they use nukes still? Yes, they could. Will they choose to seize to exist, and lose 100% of their territory, by nuking the US to try to get a fraction of that land? Doubtfully, and if they choose to do so, it would be out of our control anyway and would be a matter of time.
There will be long wars and short peace from now on for undefined time.
Whether it will be wars on the periphery or a global war depends on which stage western democracies will wake up and collectively realise the reality of the situation.
Both Hamas and Hezbollah are proxies of Iran - Russia - China alliance. They are going nowhere.
Disengagement in Ukraine is only possible if Russia decides that it needs time to regroup and heal. It is an existential conflict with no end in sight. If Ukraine falls, conflict will move on to the rest of eastern Europe after a short while, as Ukraine should have only been a first step of the plan for Russia to control Europe.