I strongly disagree with this, esp depending on the type of college. For colleges with dorms / residential life, missing out on the first year or two of college definitely affects students. For many students, this is the first time they'll live away from parents, and the connections made during these years can fundamentally shape identity and social networks.
That's not to say I think it's a good idea for residential campuses to resume in the fall. A bunch of schools have announced plans to have classes in-person, with an adjusted calendar (e.g. Notre Dame), with mandatory testing and social distancing. I'm very skeptical at how successful these plans will be, considering there is absolutely no way you can make college students social distance from one another outside of classrooms.
But I do think it is important to acknowledge that young college students *are* missing out on experiences that are really valuable. In addition to social life of college, there are tons of opportunities that won't be available to many students if they're not on campus, including research, group extracurriculars, etc.
Edit: I just realized that you're talking about MS1 and MS2, but my point still stands.