Yep, traffic dips happen. But everyone jumps straight to the SERP report and ignores whether their site's authority just got tightened-or completely wrecked.
Here's the thing: SERP report is your first port of call after a traffic drop, sure. Then check if impressions tanked too. a year-on-year comparison is usually your litmus test. If impressions are down but rankings aren't, you're probably looking at a demand shift, not a SEO issue. But if impressions are flat and clicks dropped? That's a CTR problem, not a visibility one.
Half the people I've seen in these threads panic over nothing because they skip the basics. So yeah, the dip is real, but figure out what actually dipped before you start rewriting content