Why Should One Care About Rising US Bond Yields?

I'm no expert. I'm sure others here can provide more insight, but here's a few things:
1. Bond yields rise as the value falls. Bond funds, pension funds, and other investment vehicles are mandated to own them. The values have now plummeted. This could put retiree's pensions in jeopardy. This loss of value caused the spring regional bank failures.
2. The 10 year treasury is tied to US mortgage rates. As rates rise, the housing market is destroyed. People can't qualify for loans at higher rates.
3. Government bonds are used as a benchmark for business loans. The debt market is drying up, which inhibits commerce. Businesses can't qualify at the higher rates.
4. The scariest thing from US perspective is that rising rates reveal less confidence in the value  of US treasuries, considered by many a risk free asset.  Too much supply, and no demand. This loss of confidence can bring down the whole house of cards.