It's lower than that, Colorado University adds in 0.3 mm/yr og GIA adsjustment,
so it's really only 2.8 mm/yr and the tide gauges around the world average out
to even less.
Here's a link to the reasoning behind CU's GIA adjustment:
...the mean rate of sea level change due to GIA is independently estimated from models
at -0.3 mm/yr ...We apply a correction for GIA because we want our sea level time series
to reflect purely oceanographic phenomena. In essence, we would like our GMSL time series
to be a proxy for ocean water volume changes ... GIA correction has the effect of increasing
previous estimates of the global mean sea level rate by 0.3 mm/yr.
And here's a link that tells us that sea level rise is slowing down:
Why has an acceleration of sea level rise not been observed during the altimeter era?
Add it all up, and the threat of sea level rise isn't very scary.