At this point the percentage of avid, habitual cruise passengers willing to risk COVID exposure by sailing is probably trivial. The rest of the addressable market currently equates cruising with getting sick and maybe dying, and no amount of discounting will get them packing bags.

It does not help the cruise lines that investigative reporting is starting to emerge on their shameful decisions and actions in February and March -- lying to passengers, health ministers, the CDC, etc. -- which makes them extremely difficult to trust now if they claim they're doing extra sanitizing, etc. The business appears to have gotten hundred of people killed during high transmission periods, including many of its own customers and crew.

Remember that the industry was already overprovisioned relative to demand before all this broke out -- too many ships and cabins chasing too few customers -- and if half a dozen major brands are destroyed by coronavirus it would give the remainder a fighting chance in the very long run.