I think the answer is situational, based on the organization’s mission, service model, geography, etc. The inflation/recession factors cited in the question are short-term or, at best/worst, medium-term in nature. Hence, the response to them should be more tactical than strategic; i.e., “How do we adapt to today and the next 12 months while keeping our eyes on the long-term sustainability of our organization and its mission?”
Arguably, the only “wrong” move is to focus on only one business model and ignore the others. Each business model is subject to change by external factors, and each business model is changeable based on an organization’s internal factors.