I personally believe fork is a bad idea. Building a new community chain from the ecosystem's builders and supporters will have way more chances of success. There's no way to make it right for the impacted people by forking. Where are you going to fork? Before the crash? mid-way? Buying back and burning tokens would also not work because the current circulation is in the hands of degens and apes.. buying back is like becoming their exit liquidity.
A new chain though has many more advantages:
You will carry the support of the Terra community (because you are the foundation of this community)
You will carry the support of the wider crypto community (both impacted and not impacted as they will see the good nature motives)
You don't need marketing. You are already the most famous community chain. Everyone knows about Terra and with no effort, everyone will promote the new community chain.
Fresh tokenomics. You don't give money to degens by burning, you don't try to make it right for some people by forking. You just give a symbolic airdrop to Luna holders. Just symbolic, not trying to give them money back.
You go away from the toxicity and negativity surrounding Terra right now.
You use the same tech that will make it easy for the existing ecosystem projects to migrate.