worstofbothworlds
It depends on the purpose of the feedback.
Setting Covid to one side, there used to be a train of thought where amount of red pen was wrongly equated with good marking. What that meant was hours being spent writing lots, tick and click with very little impact for students or teachers. Some schools still hold this view, and some parents/students still think that everything has to be marked by a teacher. I've done book looks where staff have written 'lovely ideas / good effort / be more imaginative' and there's ticks everywhere, but their feedback isn't as good as another teacher who marks every 2-3 weeks with really useful comments and time for pupils to respond meaningfully.
There's rightly been a shift towards feedback, not just marking and an understanding that not everything needs to be commented on.
In terms of having impact, students need to do something to act on the feedback and good feedback (be it marking, online comments, verbal feedback, whole class feedback) needs to have some practical follow through. Feedback should also underpin future planning as staff know who understands doesn't. Good feedback that has impact is time specific, so being told to remember units in maths/use descriptive techniques in English is fairly useless if the children aren't coming back to that any time soon. It becomes something that looks good but is time consuming with limited impact.
Coming back to lockdown, there's more of a case for acknowledgement feedback now than under normal times. It's likely that students will benefit from knowing their teachers are looking at their work. Personally, depending on their age an overall comment that shows the teacher has seen their work in different subjects from their class teacher in primary once a fortnight would be good, rather than specific feedback. At secondary, feedback on specific tasks is probably easier but whether it's worth the time will depend on staff planning, what students are moving onto (for example in my subject it would be pointless telling students to use a range of sentence openers in March if the next series of work is analysis and they're not returning to creative writing til June).