I can understand why some newcomers to the profession are feeling gloomy, as well of course as those colleagues who have lost their jobs or been stood down. A personal view (and I am standing by to be flamed) is that, at least in some cases, companies are being opportunistic and "not wasting a crisis" by aggressively repositioning their workforces for the recovery.
Let's look at some underpinning facts. For the last several years a world pilot shortage has been brewing. In July last year, both Airbus and Boeing agreed that the world needed three-quarters of a million pilots over the next 20 years
https://www.boeing.com/commercial/ma...ician-outlook/ These are not just figures from the OEMs. Every airline in the world (including Australia) was recruiting hard, with many introducing subsidised ab-initio cadet programs. The potential shortage was acknowledged by initiatives from ICAO and IATA.
Let's assume that it may take 2 or 3 or even 4 years for a vaccine to be found, administered, and for people to start traveling again. (I haven't seen any predictions/estimates of longer than this, although I do agree that its guess-work). In any case, whenever a vaccine is found and distributed, people will start flying again - why wouldn't they? Assuming that things only recover to 2/3 of the 2019 figures that still means half a million new pilots, needed plus the extras from those who have retired or decided to give it away. Like an earlier poster, I agree that numbers of the older demographic (of which I am one) may well be considering giving it away earlier than originally planned.
I don't buy into the "Drones will take over / airliners will have single-pilot operations by then" and other such rhetoric being spread by doom and gloom merchants. Maybe in the distant future, but not in my lifetime. I am predicting that the pilot shortage will come back with a vengeance. Having said this, I appreciate that pilots are very big into uncertainty avoidance and not having a fixed date for the bounce back is very stressful.
I believe that the unions and associations have a difficult path to tread, with conflicts between accepting expedient measures for short-term job protection sometimes conflicting with longer-term thinking to protect the profession. Just bear in mind that the airlines are positioning themselves for the future.
In summary, "Steady team, steady"! Everything will be OK.
Be Safe
PJ88