When asked this question, I often think about Niels Bohr the Danish physicist who supposedly 2/5  BIS central bankers' speeches  said “prediction is very difficult, especially about the future”. I think this is especially true when we experience a global shock like the pandemic that has led to profound change in our communities, economies and societies.
While it would be illusory to dispense with the assistance of the market in designing new supervisory and regulatory arrangements, these market consultations have more often that not been used by many financial institutions as a channel to lobby for softer regulation, certainly in the past and probably still today.