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The Rising Popularity of 'Low Stakes' Fantasy

Not all fantasy fiction involves epic quests and world ending conflicts. Some focus on an orc opening a coffee shop or a woman moving to a cozy town and befriending a witch. According to the scifi/fantasy publisher Tor, this subgenre came into widespread use around 2022. So much so the "cozy fantasy" tag has about 18 million views on TikTok. Cozy fantasy seems to cast a wide net including anyone from middle grade to adult.

Analyze the sudden interest in ‘low stakes’ fantasy books such as Legends and Lattes by Travis Baldree or Cackle by Rachel Harrison. How is the genre defined? What purpose is there to include mythical beings in a story with such little or no magic? What other pieces of media fit within the genre?