In theory, you'd be entitled to a refund if the flight is cancelled. In practice, LY isn't processing refunds now and won't be doing so at least until they bring their staff back. That being said, they've worded the message fairly vaguely, so I wouldn't bank on seeing that money again. I'd say your best hopes are one of the following:
1) For the flights to cancel and you initiate a chargeback with your credit card
2) For the flights to operate and to fly on them. Seems unlikely, though.