I'm not sure if you will see that sort of fear so far into a...

I'm not sure if you will see that sort of fear so far into a bear market. For one thing most people I suspect are a lot less exposed to equities, or hedged to the teeth in other ways(I know I am).

Since economists are now talking multi-year recession its best to settle in with with some puts and can engage in some stock picking from that (somewhat) protected position. The reason the VIX has stayed elevated for such a long time but hasn't really spiked is possibly because people have had ample time to prepare.