Sure, nobody's worried that the ^vix is at a mutli year low. I would be. This is the equivalent of a crowded theatre. If someone farts, it's going to get ugly.
It could turn into a shart.
it's not high compared to where it went in last bull market: it's in the 13's now: last bull it bottomed in the 9's in December 2006 and the market didn't top on the S&P for about 11 months after. Complacency is all relative.