While the number of vaccinated people who have been infected with COVID-19 has risen (due in large part to the greater number of those vaccinated), the vaccines are still proving to be effective against severe illness, hospitalization, or worse.
With researchers around the world studying both safety and effectiveness, the COVID vaccines are now among the most highly scrutinized vaccines in history. As of November 22, 2022, researchers from many of the US’ top medical institutions released one such study measuring the effectiveness of the bivalent mRNA vaccines. In that study, they reported the Pfizer and Moderna vaccines with boosters provide significant additional protection, and people 12 and older who have received a bivalent booster are 15 times less likely to die from COVID-19 than people who have not been vaccinated.
https://www.nejm.org/doi/full/10.1056/NEJMoa2117995 (New England Journal of Medicine)
https://www.cidrap.umn.edu/news-perspective/2022/01/studies-covid-vaccines-effective-limited-waning (Center for Infectious Disease Research and Policy)