I'm not always on top of my children but while they are still in primary school I wouldn't want them to be out and about without me or another adult within eyeshot.
I think this is basically the definition of always being on top of your children?
Since you were never let out yourself, you probably have no memories of all the things being let out helped you with.
Independence. Resilience. Problem solving. Even democracy!
I was always out with a group of various ages, having to sort things out amongst ourselves and work out what to do when the bus didn't show up and we didn't have mobile phones. Or when Danielle lost her money for chips after swimming and we all pitched in so she could get chips + enough for the bus. Or when I fell off and fucked my bike, and my arm, 2 miles from home and my little brother carried it home while I cycled his bike one handed. All of this was before high school (age 10-12, brother was 2 years younger).
This was in the early 00s so not that long ago.
My oldest is 10 and started going to the park at 6 for 20min intervals, now is allowed to go most places within walking distance as long as she's not out after dark. She'd be practicing on buses with friends if it wasn't for covid. Youngest is 6 and unlike her sister I don't trust her with the road, so she's not allowed to the park unless with her sister but is allowed in the street with friends.
Maybe this is more common in Scotland where the majority of children go to their most local school, but there are maybe 2 or 3 parents who pick up children from P6 (10) class and I assume that's bc they live further away. The P1-P3 (5, 6, 7) class get out 20 minutes earlier, so it's normal for P4+ to walk home themselves especially if they have infant siblings.
And for pp who asked yes 10yo is left home alone for up to an hour while I go to the shop or pop into mums / neighbours for coffee etc.
I think the benefits far outweigh the risks. I've said this on threads before but I remember clearly in high school the kids who had never been let out and were driven everywhere, I was friends with some of them, and they were generally lacking in street smarts.