Ok so its sort of hard to qualify if that's makes it an עת צרה. I mean, they are always there. Its more the danger the Israeli soldiers in Gaza are facing that's on everyone's mind I think. Not sure how the rubric of עת צרה works. I guess anytime a large group of yidden are in immediate danger should qualify.
The ongoing danger in Eretz Yisrael is a direct המשך of צרה that is likely the largest number of Jews murdered in Eretz Yisrael in close to 1000 years. I can’t imagine anyone wouldn’t consider October 7th to be a צרת הרבים. To put it in perspective, the Kehilla of Worms, the one we cry over every year in the קינות on תשעה באב numbered around 800 murdered.
I don’t think it makes sense to isolate parts of this tragedy and consider the צרה to have ended with the massacre, and the ongoing war on its own to be too minor on its own to be considered an עת צרה. Were the last few Jews to die in the concentration camps not considered to be part of the עת צרה because they were few in number?
Regardless, the צרה is clearly ongoing in the sense that 250,000 yidden are currently displaced from their homes, dozens are being killed על קידוש השם every fortnight and over 10,000 injured are (hopefully) in the process of healing. Untold numbers of others have ongoing psychological trauma. I would find it hard to believe that this is not a צרת רבים about which the Gemara Taanis says:
בזמן שצִבור שרוי בצער – אל יאמר אדם אלך לביתי ואוכל ואשתה ושלום עליך נפשי. ואם עושה כן – עליו הכתוב אומר 'והנה ששון ושמחה, הרוג בקר ושחוט צאן, אכול בשר ושתות יין, אכול ושתו כי מחר נמות'. מה כתיב בתריה? – 'ונגלה באזני ה' צבאות אם יכופר העון הזה לכם עד תמותון'... אלא יצער אדם עם הצִבור, שכן מצינו במשה רבינו שציער עצמו עם הצִבור... וכל המצער עצמו עם הצִבור – זוכה ורואה בנחמת צִבור.