@Andrew883 that's exactly my situation.
I had my calendar all booked until June and now I have nothing. 8 reservations cancelled and none of them are covered by my moderate cancellation policy as cancellations were made with more than 5 days previous to check in. So I will be getting $0.
I won’t probably get any reservations for the coming months but still need to pay mortgage, utilities etc and Airbnb being my main source of income.
Seems to me that few people are going to be benefiting of the 25%. I think this should benefit all hosts with cancellations related to COVID 19 regardless of cancellation policy and and time in advance cancellation was made.