It does have a high death rate and it’s nothing I’d ever go in for. I know folks who do it to varying levels of danger and difficulty.
All a question of assessing risk though - Alex Honnold is the most famous practicioner and the public perception is that it’s all he does. In reality he’s on ropes 99% of the time getting the routes he wants to solo absolutely dialled in at a level well below his limits.
The way I mentally reconcile it is comparing it to driving along a motorway at 70. If you were presented with a bridge the width of a motorway lane with sheer drops either side there’s no way you would take it on at 70. But with the safety net of lanes either side it’s pretty easy. Sensible soloing is like removing the safety net but for something you know incredibly well.