I think a greater depression will be from those performers who are - right now in many places - forbidden to work. I will be curious to see how many people of the arts chose to exit the career field because they could not survive endless lockdowns.
If you’re suggesting the lockdowns are unnecessary or poorly managed that seems like a different discussion than this.
And if we want to cast blame I personally would blame, at least in the U.S., how little arts are valued - especially when it comes to providing arts education in public schools.
The federal government could be paying artists to produce work which could then be distributed free to help all of us as we get through this.
One of many possible paths not taken.