Its a blood disease, not a respiratory disease. This supports the new idea that CV19 attaches itself to the heme ion on the red blood cell, thus making the blood unable to transport oxygen (that's why multi-system organ failure is so prevalent). Also, the pneumonia is usually after the drop in blood O2 concentration, indicating the pneumonia is a secondary symptom, not first. Probably why overweight and cardiac-stressed people die sooner.

That's why hydroxychloroquine works (in some cases), because it prevents the heme ion from leaving the RBCs, much like how it works by preventing the malaria parasite from doing the same.

It will be interesting to see how Colorado fares, given the general 1 mile altitude and higher concentrations of RBCs to compensate.