I think it always pays to be prepared with the basics for all of life's potential emergencies. Money in the bank for times of unemployment, first aid kit for medical emergencies, fire extinguisher to put out a small fire, extra fuses, jumper cables, air pump and a spare tire for road side emergencies, etc. A little extra food and water for shortages should be part of everyone's pantry.
I live in New England and anyone that lives here knows when the media hypes an upcoming blizzard, supermarket shelves are empty of the basics in a matter of 24 hours. Bread, Milk, Eggs and Water fly off the shelves as fast as they can stock it. So it's not hard to see that a semi serious natural disaster would wipe out the local food supply temporarily. I like to be prepared for most things I can think of and not have to rely on outside help, but it never worries or consumes me either.
However, for the most part I believe the whole prepping mindset is more of a romantic notion than anything else. A longing for the good old days when the world had less people, less government, less regulations, less complicated and you were more self reliant. I know I do.