There is a very real issue if the company pays too high a price for its share buybacks. Taken in the extreme case of the corona virus there is a very real diff

There is a very real issue if the company pays too high a price for its share buybacks. Taken in the extreme case of the corona virus there is a very real difference if the company (say the airlines) did a buyback of a set amount of shares in January 2020 versus if the company did a buyback of the exact amount of shares buyback today, post corona virus crash.