The issue is that they ARE important enough to the economy to be considered an "large apartment building owner" (see: de facto bailouts) but were NOT regulated as such. Pardon my continued use of a somewhat tortured analogy.
You and me and everyone else without >$250K in an SVB account should be angry about this. Why? Because the customers of SVB were getting attractive returns on their deposits. So they got exposure to the upside of the bank's risk, but were bailed out of the downside.
