I think someone smart with a lot of ETH will see a real opportunity to buy aWETH off people. My math suggests worst case is low-single-digit impairment and willing to wait for liquidity (but you get paid while you wait).

Feels a lot like the USDC depeg weekend where you knew all users could exit 1:1 after you backed out what MakerDAO held (and they had no fast path to redeem)
Not to minimize contagion, because RIP many other specific stakeholders (e.g. Umbrella), but aWETH looks like it gets either par or few hundred bps cut.