COVID definitely impacted the draft.
Getting an extra year meant you have more older prospects coming out.
NIL is the other piece to the puzzle. Combined with getting an extra year of eligibility from COVID, players have less incentive to declare early. In 2021 it might have resulted in a thinner draft, but I don't think 2024 was a thinner draft because of it. I actually think NIL makes for more robust drafts -- you have better developed players or players with more demonstrated production at the college level for scouts.
The talent at specific positions also varies by year (this year's QB class = very good, this year's ILB class = not so good)... so RG you're not wrong but I just think there are a lot of factors in play you didn't mention.