It is a total letdown... but you didn't "tell us so". Biden wasn't even in my top 5 of all the Democrats running for POTUS. You told us he was evil incarnate and would usher in an age of war more than a few times that a few of us probably didn't buy.
Normally I can wrap my head around election letdowns but I don't see the brilliance in a big zero on the debt forgiveness because it didn't have any discernable downsides to him or the Democrats. The explanation that I have heard that might make sense is that he is still waiting for a report on what authority he has to absolve the debt through an EO and there is a big possibility that he can't. In that case it will be up to Congress.