It’s not an existential threat
Existential threat? No!
Yes it’s a Problem, BUT not end-of-world
Instead of being 450% as rich as we are now, unabated climate means we'll 'only' be 436% as rich.
No increase in hurricanes.
No increase in wildfires.
Arguments for devastation typically ignore adaptation, which will reduce vulnerability dramatically.
Damage from flooding is decreasing.
Climate policies also have costs that often vastly outweigh their climate benefits. The Paris Agreement, if fully implemented, will cost $819–$1,890 billion per year in 2030, yet will reduce emissions by just 1% of what is needed to limit average global temperature rise to 1.5°C. Each dollar spent on Paris will likely produce climate benefits worth 11¢.
https://www.sciencedirect.com/science/article/pii/S0040162520304157