In Prodigy, Nova Squadron has been revived by the mid-2380s.
This feels like a very terrible idea for a multitude of reasons. Besides the initial incident, I would think Starfleet would hesitate against elite cadet groups even further after both the attempted Red Squad coup and the USS Valiant incident.
Also, I have two takeaways from the LD Nova Fleet incident. One, Locarno feeling the need to “revive” Nova Squadron suggests that it didn’t still exist in 2381, meaning the revival must have been relatively close to 2384. Second, I feel like the coming back of a former “elite” cadet to bite them would further make Starfleet wary of establishing an elite cadet group again.
Overall, it just seems every time the Academy does this, they just produce a group of arrogant cadets very susceptible to manipulation and/or recklessness. Even 2384 squadron seems this way - we see their elitist attitude towards the former Protostar crew matching that of Red Squad and such.
So why did they do it again?
Perhaps Nova Squadron is a long-held academy tradition, and despite the initial fallout of the 2368 incident, that’s overshadowed by its long history of outstanding cadets, a legacy the academy didn’t want to suddenly erase.
Still, I feel like they could have turned Nova Squadron into an honors society that recognizes students without the special treatment rather than resurrect what seems to be the original format.
Honestly, I hope (big emphasis on hope) the new SFA show elaborates on this and overall fleshes out the Academy as an institution, at least before, as I predict will happen, our “cadets” will be starship officers in all but name by the end of the season and will barely get a proper academy experience.
I kind of wish we had an academy show either early 24th century (lost era Monster Maroon) or a chill (post-PIC) 25th or 26th century setting that just followed a normal group of cadets without weird stuff like an early commissioning.

I hope we can yeat Saru in somewhere else - at least the occasional appearance on STA. Let's hope that Robert Picardo claiming "he'll be deeper" means he'll be 99% comic relief like when he said he'd be "more than comic relief" in Prodigy, meaning the show will be a banger rather than a melodramatic despair-fest with the occasional redeeming quality.
Either that or throw him through a portal to another era and call it temporal causality, although I guess the only currently running show they could throw him in is SNW, which wouldn't make sense for obvious reasons. Now if Prodigy got its (unfortunately improbable) season 3 and he somehow managed to appear and they made a good plot out of it, I might not mind.