Apollo's Marc Rowan just dropped a hot take: everyone's overreacting about private credit risks. But here's the thing—not everyone's buying it.

Rowan thinks the market panic is overblown. Critics? They're pushing back hard, saying there's real reason for concern lurking beneath the surface.

Who's got the right read on this? The debate's heating up, and it's worth paying attention to both sides before the next shoe drops.