>But I think you'll agree that it'd be ridiculous to shovel money to families making $200K+ a year.
I wouldn't; reality is more nuanced and circumstantial than your blanket generalization would like it to be. While it's true that in many places $200k is a substantial amount of money, there are places (California, for instance, particularly the Bay Area) where the cost of living is high enough that a couple earning $200k may still be living paycheck to paycheck and $2900 doesn't even cover rent. The loss of even one income in that household could be devastating.
>And the check is not conditioned on whether you're still employed (which most people are).
I alluded to that condition by my use of the phrase, "If they're unemployed".
>TL;DR: a lot of people who are still working are getting what to them is a substantial amount of money. They'll be spending it.
While I am sure that many people will spend it in ways that are more recreational than others, I am not so sure that as many people will be doing that as you assume. Jobless claims are expected to reach a whopping 15% soon[1], many people still employed are finding themselves working reduced hours resulting in reduced pay[2], and hiring is down[2]. The current data available is from March, which means we're likely to see data for April reporting even fewer hours worked - which means a continued decrease in take-home pay for many people still working - and even fewer jobs hiring.
The reality is that there is a lot of uncertainty right now. Many people still working are probably on the edge of their seat about their company's long-term prospects - sure they can make it for now, but how does a shutdown that could go on for many more months allow their workplace to continue to sustain itself? It's foolish to assume that the employment numbers we are seeing now have leveled off and won't continue to rise, especially if this continues through summer. More businesses will close or cut back on hours and more people will be out of work.
That thought process is likely playing out across the country in many homes, so I would expect more people to pocket the money and use it wisely than to sign up for new subscriptions that they don't need than you would think.
[1]https://www.marketwatch.com/story/jobless-claims-might-top-5...
[2]https://www.vox.com/recode/2020/4/3/21203199/state-of-employ...