There is one primary problem with your thesis. That is that the value of the underlying security, in most of these bank cases was long term Government T-bills. the problem for the banks is that as interest rates increase the day to day market value of the bonds goes down. But the actual value of the bond, unlike the cars of the collector, do not decrease if held to maturity, the money actually is guaranteed by the government. The problem arises, when the bank needs to sell some of these bonds with a 0.28% yield when the current fed rate is 4%, nobody wants them. Yet in the pre-covid era of low inflation, this is exactly the strategy that any bank should have played.

In this case, what the fed intervention did is take back the bonds in the form of a guarantee of 100% deposit insurance policy, basically guaranteeing their own money.

The down side of this is the catastrophe would be millions of technology employees that would not have had a paycheck in the days after the collapse of SVB, we would be talking about a depression level meltdown of the market, and the bankruptcy of many big, easily named Tech companies, and the fallout of potentially millions of employees, mortgages, car loans, etc. It would have set off a domino effect across the banking industry in like with the 2008 financial credit crisis. My brother-in-Law's company would not have made payroll to his 58,000 person global workforce, his company is on the smaller side or companies that would have been affected by this.

Simply put, after Covid pressures on the economy, it could not have absorbed this catastrophe on top of Covid. Sometimes things are too big to fail.