I am not a fan of mid- or long-term nominal bonds. In theory, these bonds are supposed to have inflation predictions built into them. Given that long-term treasury bonds have historically returned about 2.5% real, that means the current long-term market prediction for inflation is 2%. That seems like a very bad bet to me, especially given that we're already above 5% inflation this year, and even short-term bonds don't reflect that.
The yield spread between TIPS and nominal bonds just doesn't make sense to me. In theory, TIPS should have a slightly lower yield than nominal treasuries because TIPS remove part of the interest rate risk, but TIPS have a much higher yield right now.
Another thing to consider is that investors are no longer the ones who determine bond rates. In recent years, foreign central banks have become the biggest buyers, and they have different reasons for buying than "smart" investors.
Bottom line: if you buy or hold nominal bonds today, you are making a bet that long-term inflation will be 2% or less. You need to decide for yourself if that is a smart bet.