All the reasons you citied for why it makes sense were true in april of 2020 too when H1B was oversubscribed by multiple factors.
So how does it make sense to you?
Its not like indians were getting Green cards in 2 yrs in april.
Correct explanation imo is drop in outsourcing contracts due to pandemic. TCS, Wipro don't need h1b anymore.
https://infotechlead.com/bpo/infosys-reveals-some-clients-se...