The bigger they are, the harder they fall!

Crazy enough, this was the 2nd largest bank failure in US history behind on Wash. Mutual in 2008 and yet most Americans are none the wiser to who SVB even is.

The FDIC certainly staved off system wide panic (for now), or at least provided confidence to depositors, but as you mentioned, they probably opened the door for more risky moves by desperate banks trying to get ahead or stay above water.