I mean, the US dollar is kinda the backbone of the world economy. If you're talking about that currency failing, then yeah, we're talking about global depression.
And while yes, in 2008 (and I'm sure many other times), bank losses were socialized and the taxpayer paid for this massive bailout that fed the rich in disgusting amounts, that's not what is happening here with SVB. The losses are not being paid by the fed. The money is there, they just failed their bank run test