I think there are a lot of interesting points - but honestly, I feel that the lower quality has been an ongoing issues for years. The pandemic didn't cause this - it just brought it to the surface, at a time where we can't/don't shop as much, and we have time to look around and take stock of everything.
My example is Macy's. I've visited Macy's regularly for the past 6-7 years, and the fabric has been increasingly more polyester, nylon and spandex, in uninspired cuts and with (my opinion) silly-looking, juvenile, or half-baked details, such as weird little ruffles, randomly placed tiny pockets, or cuts that don't really seem to realistically fit a human body well. Spaghetti straps, strapless, and/or cutouts. Seriously, for every teenage girl or woman I actually know, who can wear these, I know about 29 more who cannot or will not.
I've also been asking, for at least 7 or 8 years now: when did cows become endangered, that leather shoes or bags usually top well over $100+ now at retail, and fake leather can run almost as high?
I think what is happening, has been slowly happening for nearly a decade. Cheap materials, cheap workmanship, and a flood of things that nobody wants, and people aren't willing to buy, even on clearance. The pandemic just accelated it.
I'm not planning to 'stock up', although I think I am going to replace my favorite, 10-year old skirt and 6-year old jacket-blazer (I have new ones bookmarked on a resale site).
I believe that there is enough cloth and clothing already made on this planet, via secondhand clothing, that if it came to it, we could refashion into wonderful new things. Reuse, repurpose, recycle, and take care of what we've got. That's definitely my wardrobe future.