We dont live in the world of 1967 and 1975 sport....I know.....I was there!
Going around the Cape of Good Hope is not a good solution, but it is a viable solution. There are some ships that are intentionally too big to go through the Suez Canal, so will not be effected by this. It is becoming normal to build ships that when fully loaded go around the Cape of Good Hope, and then return to China empty through the Suez Canal.
The Cape Horn is much further to the south, so if the Panama Canal is blocked, it is much worse.
We will see. If a week from now, the Suez Canal is still somewhat blocked, it will be a very bad sign.