  Gamma-ray bursts (GRBs) brighter than the GRB 221009A, the brightest yet
observed, have previously been estimated to occur at a rate of 1 per 10,000
years, based on the extrapolation of the distribution of fluences of the Long
GRB population. We show that bursts this bright could instead have a rate as
high as approximately one per 200 years if they are from a separate population
of narrow-jet GRBs. This population must have a maximum redshift of about
$z\approx 0.38$ in order to avoid over-producing the observed rate of fainter
GRBs. We show that it will take $> 100$ years to confirm this new population
based on observing another GRB from it with a $\gamma$-ray detector; observing
an orphan optical afterglow from this population with Vera Rubin Observatory or
an orphan radio afterglow with the Square Kilometer Array will also take
similarly long times to observe, and it is unclear if they could be
distinguished from the standard GRB population. We show that the nearby
narrow-jet population has more favorable energetics for producing ultra-high
energy cosmic rays than standard GRBs. The rate of bursts in the Milky Way
bright enough to cause mass extinctions of life on Earth from the narrow jet
population is estimated to be approximately 1 per 500 Myr. This GRB population
could make life in the Milky Way less likely, with implications for future
searches for life on exoplanets.
