Interesting theory that will be interesting to watch how it plays out.Just guessing, but I would imagine many OTAs run on razor thin margins and survive on volume and some of them sketchy/limited support. If there are a tsunami of cancellations around the place over the coming quarter then I expect the cash-flow cupboard will run bare and one or more may go under.
From a vague memory, there are reports elsewhere on AFF of a different OTA that went under where passengers hadn't been ticketed and refused boarding by the airlines.
And you are probably thinking about BestJet that collapsed in Dec 2018.