The stats I can find show that 95%+ of Americans have less than $100k of savings, and much of savings is in non-cash means, so $250k per account seems completely sufficient to consider that yes, people are protected.
If a bank failure like SVB was not covered ad-hoc and out of policy by FDIC, the economic impact of thousands of companies suddenly going bankrupt and tens of thousands more pulling out of other banks across the country would probably be pretty significant, even though the majority of the country isn’t directly vulnerable to FDIC limits.
