Consider that maybe around 5-8%

Even the most conservative estimates consistently place it around 10-12% (and this is supported by decades of sociological research from around the world). And that’s the people who openly admit it. The actual number is likely far higher (speculation is 15-25%, but it’s only speculation), especially when you consider “incidental attraction“, which accounts for those who are only “sometimes attracted“ to the same sex. Aka Bi/demisexuals.

The real mistake is trying to reduce sexuality to a number or a statistic. That said, your estimation is way below the mark.