JWST/MIRI reveals the true number density of massive galaxies in the early Universe
Early JWST studies reporting an unexpected abundance of massive galaxies at $z \sim 5$--$8$ challenge galaxy formation models in the $\Lambda$CDM framework. Previous stellar mass ($M_\star$) estimates suffered from large uncertainties due to the lack of rest-frame near-infrared data. Using deep JWST/NIRCam and MIRI photometry from PRIMER, we systematically analyze massive galaxies at $z \sim 3$--$8$, leveraging rest-frame $\gtrsim 1\,\mu$m constraints. We find MIRI is critical for robust $M_\star$ measurements for massive galaxies at $z > 5$: excluding MIRI overestimates $M_\star$ by $\sim 0.4$ dex on average for $M_\star > 10^{10}\,M_\odot$ galaxies, with no significant effects at lower masses. This reduces number densities of $M_\star > 10^{10}\,M_\odot$ ($10^{10.3}\,M_\odot$) galaxies by $\sim 36\%$ ($55\%$). MIRI inclusion also reduces ``Little Red Dot'' (LRD) contamination in massive galaxy samples, lowering the LRD fraction from $\sim 32\%$ to $\sim 13\%$ at $M_\star > 10^{10.3}\,M_\odot$. Assuming pure stellar origins, LRDs exhibit $M_\star \sim 10^{9\text{--}10.5}\,M_\odot$ with MIRI constraints, rarely exceeding $10^{10.5}\,M_\odot$. Within standard $\Lambda$CDM, our results indicate a moderate increase in the baryon-to-star conversion efficiency ($\epsilon$) toward higher redshifts and masses at $z > 3$. For the most massive $z \sim 8$ galaxies, $\epsilon \sim 0.3$, compared to $\epsilon \lesssim 0.2$ for typical galaxies at $z < 3$. This result is consistent with models where high gas densities and short free-fall times suppress stellar feedback in massive high-$z$ halos.