I really don't understand why we're watching the world economy go into freefall for social distancing when we could just quarantine those vulnerable to the disease. This only ends when every single person is immune to the disease, so wouldn't it make sense to quarantine those who could die from the disease and then let it run its course? It's incredibly frustrating.
Know what's even more frustrating, though? That's still an option.
We fucked ourselves with reliance on China, and Just In Time medical facilitation. The Quarantine is about catch-up on that, smoothing the curve, and I doubt its going to happen, same actors that lead us here are still to 100% profit oriented and will continue the same way. As far as quarantine, I think you are right, we have a <2% mortality rate. I think in certain cases lock down makes sense (think SARS but more contagious with 50% mortality rate)