We also worry about existential threats from "class" points of weakness. Like a mathematical breakthrough that makes factoring large primes or mapping elliptic curves trivial. Again here, one can imagine that were it possible to entirely switch-off encryption and return to early 1990s operation, even a catastrophic class failure would not be that bad - we'd just have a massive cybercrime and infosec problem instead of a systemic failure.
Real dangers come from systems where logical regression is strictly not possible. A base weakness like a backdoor or fault in every ARM or Intel processor that could brick half the devices on Earth is a likely cause of widespread civic harm - because it could be unrecoverable, turning devices into e-waste overnight. Crowdstrike had a flavour of this because it reminded us that computers are actually pieces of hardware in data centres that can need manually rebooting or need human physical intervention at scale.