The pessimism here is "so thick you can cut it with knives". Just the opposite as before the Scotus ruling, when everyone assumed at least a tenfold increase in common stock prices.
In that respect, these are interesting times for contrarians, especially with regard to JPS, which are trading near record lows relative to commons (factor of 1.5 instead of 3 to 5 normally).
All it takes is a brief hint from the Biden administration that it will continue the path towards recap/release, and prices double overnight.
...Of course, such a hint will come only after all "greedy" hedge funds have sold off at the lows
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