Another way to look at this. Right before the covid crash, SPY was around 320. SPY is at 367 now. So for most people 401Ks, their portfolios should be up around 15% since then.
Yes, the market was up 27% in 2021. We've basically erased those gains, but we're still above where were at right before Covid hit... we've been spoiled in a lot of ways, addicted to continuous gains, which is not the norm over the life of the market. The market moved pretty slowly from 2002 to 2007 and then it crashed.... basically any investment made in 2000 was flat or a loss in 2009.
The longest running bull market from 2009 to 2020 was an aberration.