I think the posted article is also the description of America's labor market. Many people don't use it on a day today basis and most people cannot engage their system 2 to assess risks over a few weeks out, let alone 5-10 years.

But I found This is a real practical everyday example of why statistical uncertainty is important to know about. It teaches you how to compare — risk adjust — two vastly different investments e.g. BTC vs S&P or indexing vs value strategies. Then you sleep at night.

It is also not intuitive and many people are very anxious and FOMO driven when it comes to money. So you need to internalize the idea for it to sink.

The drawdowns are a statistical measure and you could be unlucky to catch a big depression style thing once in 30 years. And T is typically longer than 5 years, typically 10 or more.