Why would losing 500% of California's 2019 GDP be impossible? It's difficult to imagine, sure, but that's just 5x $2.7T.

The sheer number of n'th order effects of this crisis might just mean that most of the economic pain is in the long, fat tail spanning decades into the future.

Amortize that cost as irreversible economic damage and it might be implausible, sure, but not inconceivable.