I am not applying to biz school this year. But if you plan to do MBA this year or next, you'd better apply this year.
Next year, after incoming recession that results in massive job losses, the pool of b-school applicants will inevitably increase significantly, and I heard many who have been admitted now choose to defer their admission to next year intake. So, it is highly competitive to apply in next year.
But the uncertainty about Corona pandemic and resulting disruption in normal activities including studies in B-schools can seriously impact quality of b-school education. Your networking will also be limited
Posted from my mobile device