Why not pursue your dream
I can definitely understand the terrible situation within aviation industry, but as an aviation enthusiast myself (who has PPL/IR and currently working on EASA ATPL theory and planning to do CPL + ME next year), to the original poster, I would still say if it is really your dream, why not go and give it a try!
The important thing is to have a plan B. Personally, being a pilot is always my dream, unfortunately due to various of reasons, I could not pursue aviation in my teenage years, instead I become a software engineer. Once I got a stable job after my graduation, I started pilot training, earned my PPL in 2015, my CB/IR in 2018 and currently learning ATPL theory (already passed a few subjects; and planning to finish all 14 subjects early next year) for CPL (which only requires 15H as I have IR) and ME next summer. My reasoning is that I currently spend around 20K euros to fly around for pleasure anyway, why not spend it on the training.
My age has just turned 30, the time for me to pursue my dream is already limited. If I am lucky, maybe one day in my life I can become a FO of an airline (I am okay to give up my job, sell my house and everything as I know with junior FO salary I would no longer be able to afford these) but enjoying flying, or find some part-time GA work or becoming a part-time flight school / club instructor. Anything aviation makes me excited and if it can earn money, that's even better.
If not, my plan B is working harder. I am saving some money and planning to buy a small second-hand IFR tourer (hopefully with TKS & EFIS). And with CPL I might be able to get better insurance quote, my efforts in hard ATPLT/CPL studies will not be wasted.
So, to the original poster, I think the most important thing in the economy down turn is secure your income first, and pursue your dream. Many people already in the industry maybe are not as enthusiastic as we are, but if it is your dream, the return of your aviation "investment" does not have to be money, it can be the sheer pleasure and joy. It's never too late to start, and it does not matter when the aviation industry will recover, it does not matter what other people say. It's not about money, it's about living a life with minimal regrets (as mentioned by Jeff Bezos).