I would have preferred from an overall economic health perspective a long trend of relatively flat stock prices -- simply because I know a lot of retirees have their portfolios balanced poorly with too much in stocks, so large market corrections are really harmful to them. This stock price down trend is going to be really painful to a lot of people.
But as someone who has a lot of cash (i missed out on the pandemic recovery surge b/c I didn't believe in the fundamentals of the market), this will be beneficial to me b/c it puts valuations back in a range that i'm comfortable with.