because we are more comfortable with the idea that an increase in the basis is not always a sign of stress and can be consistent with functioning markets (and seemingly have little implication for monetary policy transmission). Nowadays, monitoring markets for signs of stress requires more knowledge of market dynamics than in the past.
So most of the time, the basis is not a sign of stress. Understanding what is behind it is a useful exercise and can identify potential vulnerabilities. But I wouldn’t be losing sleep over it in the way that I (literally) lost sleep over it in 2008. Clearly in all of this the speed of equilibration matters.