Is it that much different? In the past if you downloaded the wrong file, you could get ads opening constantly, a new toolbar taking over your browser, data scraped and sent off to a mystery server, or have some process maximise your compute.

This accounted for most of the risks on the wild west internet, but the worst case scenario of permanently losing data or having to reinstall Windows was actually rarer than it was made out to be imho.

These days the common risks are the same, except they're no longer risks - all of those have been built into the fabric of everyday internet usage and criminals have been replaced by businesses. It's like the cliche about Vegas being better when it was run by the mob.