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Software vulnerabilities have a large negative impact on the software systems that we depend on daily. Reports on software vulnerabilities always paint a grim picture, with some reports showing that 83% of organizations depend on vulnerable software. However, our experience leads us to believe that, in the grand scheme of things, these software vulnerabilities may have less impact than what is reported. Therefore, we perform a study to better understand the threat of npm vulnerable packages used in Node.js applications. We define three threat levels for vulnerabilities in packages, based on their lifecycle, where a package vulnerability is assigned a low threat level if it was hidden or still unknown at the time it was used in the dependent application (t), medium threat level if the vulnerability was reported but not yet published at t, and high if it was publicly announced at t. Then, we perform an empirical study involving 6,673 real-world, active, and mature open source Node.js applications. Our findings show that although 67.93% of the examined applications depend on at least one vulnerable package, 94.91% of the vulnerable packages in those affected applications are classified as having low threat. Moreover, we find that in the case of vulnerable packages classified as having high threat, it is the application's lack of updating that makes them vulnerable, i.e., it is not the existence of the vulnerability that is the real problem. Furthermore, we verify our findings at different stages of the application's lifetime and find that our findings still hold. Our study argues that when it comes to software vulnerabilities, things may not be as bad as they seem and that considering vulnerability threat is key.