Not very much is put into orbit in the anti-earthwise direction, because that takes a lot of energy. But the angles and eccentricities of orbits vary a lot. An object is not likely to hit you at 16 km/sec, in other words. But it might hit you at 0.5 km/sec, and that would still be bad.
I'm skeptical about the collection of the Soviet and American satellites a few months ago. But I'm not sure how to calculate the collision cross section. And of course, there is a "birthday paradox" effect, given N objects in orbit, the chances of any two colliding is much bigger than the chances that one particular object will hit another particular object.