Is stETH risky?

I've been hearing a lot about stETH lately and its role in the crypto space, but I'm still a bit uncertain about its risks. Could you help me understand if investing in stETH is risky? I've seen some positive returns mentioned, but I'm also aware that cryptocurrencies can be volatile. What are the main factors that contribute to its riskiness? Is it mainly due to market fluctuations, or are there other underlying issues I should be aware of? I'd appreciate it if you could provide a concise yet informative overview of the risks associated with stETH.