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No, you are definitely correct about why there are so many registered in such a compressed period of time. But that still doesn't explain how there are 78,000 registered through the balance of the testing year (end of September), PLUS however many it took it from January through March, as compared to prior years (AAMC reports in multi-year periods -- 206,000 took it from 2016-18, which is a little less than 70,000/yr).At first, I read the registration increase as perhaps owing itself to those being canceled in March and April, therefore the number of test-takers who would have normally taken it during then registered on May 6 instead which increased the usual number, though I could be wrong of course.
Definite uptick this year. The question is why? Because people have a lot of free time this summer to study, so they moved their test date up but aren't applying this year? Because people are accelerating their test to get in on the shorter exam? Because, as @Goro said, the economy is tanking and people are looking for something to do? Who knows? Time will tell!
The only thing we know for sure is that it's going to be next to impossible for anyone to go from not even really thinking about attending med school in 2021 just this past February to being a viable, successful candidate this cycle, so any increase in testing or applications attributable to that will just be noise, and the "increased competition" and lower admission rates due to that just won't be meaningful to anyone who has been preparing for this cycle for the past few years.