It could be underreported or overreported. You can read each individual case at vaers. IMHO about half the cases I read were not clearly linked to the vaccine (kind of like covid deaths). Someone in hospice, stage 4 cancer, dies a week after the jab.

I also assume there is underreporting due to the high level of ‘buy in’ that this is the safest vaccine ever.

It’s hard to know. It’s the best/only data source we have and it looks pretty devestating to me.