TQQQ 10 year return is 1,822%. 10 Year NASDAQ is 258%. I though holding levered funds long term was bad????

I've always seen posts about how unwise it is to hold levered funds long term. How you will lose all your money if the index falls 33% or more. Event though the NASDAQ has fallen close to this during covid and the recent drop. And NO it didn't go to 0. Then I hear that erosion and fees will eat away your gains, yet when you look at the 10 year return it is much more than 3X. Even the 5 year returns are more than 3X. What are people missing here??

NOTE: I don't care about down periods. If you don't sell during pull backs and corrections then you will recover and be fine.