What was the point?

When faced with "cash in hand that might lose value through inflation" versus "the stocks you currently own at risk of being worthless", the decision to sell is straightforward even in the absense of a next step.

There is always a risk that a specific stock will go to 0. It happens even in good ecconomic times.

The decision to sell is not straightforward, even given the current situation. It would probably be the wrong decision for the average person unless you really know what you are doing.

Under ordinary circumstances, sure.

But right now, sell sell sell is a forgiveable reaction.