Guns should be feared. If someone points a gun at you then you should be afraid, even if you have your own gun.
The proper object of fear here is the person pointing the gun. If someone seriously threatens to kill me, you bet your ass I'll be afraid, whether they have a gun, a knife, a baseball bat, or their own hands and feet. (More people are murdered via hands and feet than via either rifles or via blunt objects.)
Personally I think we are better off not living in the wild west, where our only protection is a revolver and our posse.
It is a fact of human existence that the only direct protection a person has against someone intent on violence is their own ability to use defensive force ("a revolver"), or the ability and willingness of others to use force on their behalf ("our posse"). That's true whether you live in ancient Rome, the Wild West (which was probably not as "Wild" as our mythology makes it out to be), a gang-controlled part of a city, or a low-crime gated community.
Indirect forms of protection, where we have socioeconomic, educational, criminal justice, and mental health care systems that don't lead to people developing along violent lines or make serious efforts at reform if they do, may have more overall impact. But when a crazed stalker breaks into your home, it's past the time where those can come into play.