Interest Rates – Not that bad?

I’m sure I’ll get criticized for this, but does anyone else feel that the fear over, for instance 5% on the 10 year, is overblown? I get that higher rates undermine economic activity and that the speed with which the rates change is also a problem. But at the end of the day, an interest rate is either high enough to restrict economic activity, or it’s neutral, or it’s low enough to spur activity. But 5% on the 10 year and the other rates in question aren’t THAT high. Pre-Great Recession, these rates were very common. 8% mortgages were common. They weren’t considered high. They’re only seen as high now because of the crazy low rates since 2008. Anyway, I expect to be called an idiot but thanks for reading 🤣