A few points.
1) IF BYBP has the 1800 or so students that I have read could those be absorbed into other schools, even if some of those ended up in schools that might be 2nd choice? I suspect that there are not that many free seats but I don’t know.
2) NY Has a mandatory education law, you have to send your kids to some sort of school or homeschool.
3) IF BYBP if this close to not bankruptcy is this a unique case or are many of the other schools in Brooklyn in the same boat? It will not do you any good to move a kid from school A to school B only to have school B close a month later.
It is clear to me as an outsider that the current system is not stable, the question is what happens after. Some very hard choices are going to have to be made in the near future.