Good points. Humans are irrational so applying logic won’t help.
In fact it’s the same irrational behavior that has built this economic house of cards that will also bring it down. The virus is simply the first card in the deck to fall. The house will collapse because it was unsustainable anyway. The current irrational reaction is driven by the same impulses that drove many businesses and individuals to their current unsustainable debt levels.
Unfortunately logic has never been a big factor in some of the directions society takes.