It certainly makes sense to cancel if you are not visiting during the extension period, especially for out of state passholders. I haven't made up my mind yet, as I have a trip scheduled in November and I fall into the at risk category, but I love to visit Florida when it cools down up here. For me it will depend on numbers in the state.
For those upset at Disney who say they don't think they will renew: Are you planning to 'give up' going to Disney? I certainly am not, and will definitely be a future annual pass holder. Anyone that goes twice within a year for a week is probably always going to save money with an annual pass. I've had annual passes for 20 years and this is the first time that I've ever seen this situation. I've always saved money. Whether it be TIW, store discounts, room discounts, dining discounts, my annual pass has saved me as well as providing admission at a reduced rate.
I just don't get why people can't understand that everybody, including businesses are seriously affected and it's not 'business as usual'.
My only hope is that within 1-2 years, things will return to our previous normal. It's not going to be instant. I will be getting another pass (actually have an extra one in
MDE) and will continue to use them as things get better for all of us, customers and businesses alike.
Edit: Disney is not selling AP's right now. What if they decide that's a good idea for the future? We would certainly see the 'other side' very quickly. Sure hope they don't decide to quit selling to us out of state buyers/visitors/fans.