I don't know how Covid19 or any recession right now could influence a 50% increase in applications. Someone who was a truck driver or a college student majoring in Finance at this very moment didn't suddenly take all his preqreqs+MCAT in a 3 month span to apply to medical school.
There is probably more applications because a good majority of students don't have jobs, EC's to do, no friends to hang out with, etc due to the coronavirus so they can spend all their time on creating an application on the first week it opened. If anything, I feel like this cycle will be LESS competitive because students haven't taken their MCAT (who knows if the new MCAT will be harder yet), EC's got cut short, and some premeds probably just don't have much money to apply to multiple schools given unemployment rates right now. I mean not everyone has $1000+ to fork up on med-school related stuff.