The idea that we should panic about the impact of Covid on education seems absurd to me.
Imagine. We weren't able to get through a once in a century (so far) pandemic without disrupting our children's lives. To "catch up" we should invest a few billion. The truth is there is no 'catching up". We are where we are.
Our kids would be less stressed and depressed if we'd stop telling them how irrevocably damaged they were. Of course, it's awful. But it's not like they "fell behind". They simply were in the same state of suspended animation as the rest of the world.
I have the feeling that the disruption befalling most of our conventional institutions has just started. Perhaps it's time to ask what kind of education system would emerge post-covid if we didn't try to go back to the way things were. It was less than perfect.