Does it still make sense to move to NYC from the EU?

That's a huge question and can only be answered personally.

NYC has cleared out and rents are finally somewhat cheap. But I would prefer almost anywhere in the EU to anywhere in the US, so the financial gain from the move would really have to make it worth it.

No. Broadly speaking, it doesn't make sense to pull up stakes and move anywhere unless you're afraid for your physical safety. In the age of the internet, as the global covid "experiment" is confirming, everything necessary for professional development can be acquired remotely.

In the unlikely case you're looking to make it on Broadway as a performing artist, well, my only suggestion is to find another line of work; it's true making it as an actor is best done in NYC, but the a posteriori odds of success even conditioning for physical proximity to NYC are vanishingly small.