Why are "normies" keeping their life savings on platforms whose express purpose and utility is cross network token swapping?
Usually just depositing money in a bank doesn't get it stolen so the assumption isn't unreasonable.
Even if it's only 0.25*life saving that's still devastating for most people.
If you want an apple to apples comparison you should be comparing the security of a savings account to that of a cold wallet. Those are much more alike in their function.
I don't think we classify people who engage in cross network token swapping as "normies". That's like classifying algorithmic day traders as an "average joe investor".
This is especially the case for protocols like Nomad that don’t yet have a native token. They’ll get liquidity commitments through over-the-counter SAFT agreements that give the VCs a percent of the future tokens.