When this is all sorted out and we have the spare test kits and a couple years to monitor COVID-19, we're going to find that infected virtually everyone and it has a mortality rate close to the common flu of about 0.1%.
In addition, and we'll find this out a lot sooner than later, we will find that all this economy killing stuff: the self-quarantining, social-distancing, school closings, restaurant closings, daycare closings.... we're going to find that it didn't do anything to "flatten the curve" in any substantial manner.
So we are currently killing our economy and reducing our ability to respond to the impending needs for a snake-oil cure that apparently nearly every world leader has purchased.
I also agree that the mortality rate will be closer to 0.1%. However, I disagree with the prevailing notation that the common flu has a mortality rate of 0.1%. 0.1% is based on the CDC's estimate of 50,000/yr dying of the common flu. Actual documented deaths from influenza on the cdc website is 2000-5000/yr. Actual observed morality rate for common flu is closer to 0.01%. This is one of the reasons we are seeing hospitals scramble for ventilators when we never see this during a "heavy" flu season.