This seems like a massively important bit of context which was missing from the article, thanks for telling us this! The article is clickbaity, given that I learned more context from your HN comment than their whole page of text.
Online classes from schools in India didn’t engage kids beyond 2-3 hrs. That left a big time void which were filled by these online coaching classes.
But now with physical schools starting kids will be busy for a good 6-7 hrs after which (and home work, playtime) they will hardly have time for online coaching classes. Parents would soon realize this, if not already, and discontinue subscriptions.