I agree; it's not as serious as the alarmist language used by the media would suggest. Consider Japan, the posterchild of poor demographics and fertility collapse, has seen its population decline just very slightly, and this is on top of having among the most restrictive immigration policy of any developed country. https://greyenlightenment.com/2024/10/04/there-is-no-fertili...

The underlying math of population growth and replacement allows for a wide range of fertility rates that predicts only a very slight long-term decrease of population. There is more than enough time to reverse such a decline if policy makers were so inclined. And this is also offset by increasing economic productivity, longer lifespans, more per-capita wealth, and so on. Fewer people are necessary when each person can contribute and consume more.