On 5 May 2023, the World Health Organization (WHO) officially declared the end of the coronavirus disease-19 (or COVID-19) pandemic. Even before the official announcement from the WHO, signs of recovery from the pandemic started appearing, especially after rapid worldwide vaccination. As society is getting back to its usual with each passing day, with the increasing socio-economic activities, discussion of the negative and positive outcomes of the COVID-19 pandemic remain the predominant topic of debate. Through this review, we discuss the bright side of the pandemic without undermining the pain and suffering everyone has gone through in this pandemic. The review also examined the painful side of the pandemic. Therefore, this review can be looked at as a comparison between this pandemic’s positive and negative effects. The review discussed aspects ranging from technological development, including mRNA-based vaccines, artificial intelligence-based screening, and telemedicine, to social behavior, from individual to global and from health to the environment. The review also examined the areas needing more attention for managing future pandemics. The review also highlighted what should be followed or continued for our preparedness for any possible pandemic. Toward the end, we also discussed how this pandemic has better prepared the world for future pandemics, as predicted by experts.