Two factors for me, control and numbers. When young I enjoyed a number of activities considered dangerous but they were safe if one kept his head and had the requisite skill. One had control of the risk. Not safe if insufficient skill or a skittish disposition. We have no control whatsoever over the skill, sobriety, prudence or criminality of the drivers around us.
That is where numbers come in. I had no control over drivers in prior years either, but the numbers of cars, their size, their speed and the percentage of drivers distracted by technology were vastly smaller so I figured the odds were acceptable. No longer acceptable on my local roads.