Leaving Cancelled Internship on Resume

So I don't entirely understand why people are freaking out over internships being cancelled due to COVID-19. There're plenty of people looking around for banking, trading, and quant positions during full time recruiting every year. I think return offer rates have been lower in recent years across IB as well. Even if your internship gets cancelled, if it was at a well-known name firm with the title you're going for full time, you should still be able to put it on your resume with the bullet point "Cancelled due to COVID-19", and then just having it on there should be sufficient for getting interviews I would imagine. And then I'm sure if you know what you're talking about and are willing to hang in there long enough, something relevant will come up by the time you graduate. Am I missing something or being overly-optimistic here?