No doubt, but even so, the markets are barely even down. How so?

I think "barely even down" is a good reflection of the likely impact to the companies that comprise market indexes. In almost all places economic activity has mostly resumed; fears that nobody would be willing to do anything until the virus was gone have largely been disconfirmed. There will certainly continue to be human and economic costs of the coronavirus, but the costs seem unlikely to affect the financial situations of most companies.

Sorry I don't agree.

Not only have whole sectors such as travel, entertainment, retail been directly affected (ie closed), it seems they will continue to be affected by the changes (investments/costs) they need to make to comply with the post-covid world.

The markets have remained levitated by govt. stimulus - the Cantillon effect.