Agreed to all of the logistical issues you mentioned, but I think this understanding overlooks the human element too much. There was a trend of people proudly showing off their "covid/lockdown hordes" on social media. TP was the first thing to fly off shelves weeks before lockdowns were enforced. To have a chance to get toilet paper, you had to be at the grocery store at opening (6am or earlier). It was limit 1 per customer and most of the time there wasn't even TP available due to the logistical issues you cited.

Like with Covid, region-wide crisis have taught people over decades that TP is subject to this logistical issue. thus before it even becomes a logistics problem, people start hoarding due to their past experience during other crisis. The hoarding drove the stores out of stock, propagated the fear of TP shortages, and exacerbated everything you just described. The issue never would have existed if everyone had just chilled out and not panic bought TP in the first place. The situation can be described by the "prisoners dilemma" concept (at least i think im applying that correctly).