We surveyed a convenience sample of 362 Italian university physics students, asking them to retrospectively assess their experience of emergency remote instruction due to the COVID-19 outbreak. We looked at their psychological well being, motivation for physics, academic orientation, attitude towards physics and physicists, and tried to link these factors to their overall perception of the online instruction. Our results show a general appreciation for the organization and effectiveness of online courses. However, online teaching negatively impacted on engagement and interaction between peers and with the instructors. Only 22% of students in our sample complained of the psychological distress due to remote instruction. Nonetheless, we found a significant decrease in motivational dimensions, such as interest and recognition. Emergency remote instruction also challenged the students' self-regulation, self-efficacy, and engagement. Finally, the uncertainty about the future resulted in a more pessimistic attitude towards physics, academic performance, and job perspectives.