@Kristy15 If there is lockdown either in the host's area or the guest's, so that they aren't allowed to travel, yes, a full refund is given. It's not a matter of 'giving their money back', because you don't have their money at that point, Airbnb does and will issue the refund.
It also isn't a question of whose rights outweigh the other's. It's a matter of govt. regs to control a pandemic. Neither guest nor host have control over that.
If a guest uses COVID simply as an excuse to cancel the booking, that's a different story, but if lockdowns make it impossible for the host to take guests or the guest to leave their area, a refund certainly seems fair to me.