Getting dire at the local HT.

I think a few things are fueling the Toilet Paper "thing".

People don't know how much they use outside the home.
People don't know how much they use, period.
Grocery stores were stocking for the old way.
Nobody wants to run out.

That third one is really important. Grocery stores keep stock that not actually on the shelf very low. Space is expensive. All the "just in time" algorithms are still VERY wrong now for the shelter in place.

Here's someone who's done some actual research. Spoiler alert: it's not about "hoarding". https://marker.medium.com/what-everyones-getting-wrong-about-the-toilet-paper-shortage-c812e1358fe0