Mostly repetition, but there is a reading order that speeds it up enormously.
- Read the last line first. That is the exception type and message, and it tells you what went wrong.
- Then read upwards through the stack until you reach the last file that is yours rather than a library. That is where it went wrong.
- Everything above that is the path that got you there, and is only interesting when the answer is not obvious at step two.
So: what, then where, then how. Most people read top to bottom, drown in library frames and give up. Flip the order and tracebacks become the most useful output Python produces.
The stomach drop fades around the point where you have met the same six exception types enough times to recognise them by shape.