Given that it's unlikely that we're going to reform those various debt issues, there's a sense in which it will really be the "corona crisis". They should push the market down even further, and they'll continue to lurk as a kind of price support for another decade or more until they finally cause another, different crash.
There are even more issues going on, including the oil price war and an overheated market in general, so simplifying it down to "corona" will still be incorrect. But even as the downturn accurately reflects some realities, it's still only a partial correction.
Calling it "corona crisis" is an attempt to get the debt crooks off the hook. After 9/11 and the Great Recession, we should know better and prepare for bleep happening rather than run up debt in order to brag about the economy (in the short term).
There are even more issues going on, including the oil price war and an overheated market in general, so simplifying it down to "corona" will still be incorrect. But even as the downturn accurately reflects some realities, it's still only a partial correction.