This is literally a black swan event that'll be memorialized in textbooks, and that's not even considering the actual fallout that will follow.
Alas, using the internet has given us a lot of efficiency. The trade off is resilience. The entire global system is more brittle than ever but it what gave it such speed.
Imagine it's 1998 and Norton push a new definition file that makes NAV think kernel32 is a virus. The only real difference today is that always-on means we all get the update together, instead of waiting for mum to get off the phone this evening.
We got an email this morning telling us none of our usual airlines could take bookings right now. That wouldn't have been much different in 1998, airline bookings have been centralised for my entire lifetime.
As per your point, the base infrastructure is working perfectly for better or worse!
It's one vendor pushing out a bad update, and thousands of companies with no supply chain diversity.
The base infrastructure worked perfectly fine. The stuff on top of it, not so great.
Reality: the infrastructure took down itself.