/48s are "small" enough that we could give ~8 billion people each 35,000 of them and we'd still have ~1.5 trillion (over 300x the size of the ipv4 space) left over. Addresses are basically infinite, but routing table entries (which fragmentation necessitates) have a cost.

Current recommendation (afaict ianant) for ISPs is to give everyone a /56. Not every isp does that, ofc