Would the next economic recession really be that significant?

Almost everywhere these days, you hear about the "Everything Bubble," with the US economy seemingly on the brink of popping and undergoing a major correction, especially as the only sector to see any sort of real activity is tech/AI.

Now, could someone who understands this economy stuff better than I explain why it would be as dire as people claim? Can't the Fed just turn on the money printer like we did after 2008 or after COVID? Like, a lot of people suffered during those events but global capitalism basically hummed on like nothing happened. I hear people talking about the "Everything Bubble" like it would be the Great Depression but as far as I can tell the only thing that would cause a truly catalyzing crisis would be an environmentally-induced collapse in supply chains. Which I'm sure will happen in the long-term given how the US and Europe are approaching climate change, but I don't think it'll happen due to a large-scale dot-com market correction.