You are massively simplifying and overlooking the real issue, Raven.
The crucial point never was the mortality rate, it is the hospitalisation rate that is the problem. Without measurements against the spread, no health system in any country could cope. Millions would require care within a few weeks. Capacity limits would be breached instantly, and nobody could get hospital or medical help anymore, not for any other illness, nor for any accident, birth or prevention.
And this in return would result in casualties much higher than your 0.5%. People would lay siege to hospitals, parents would beg for help for their children, it would be an absolute catastrophic and apocalyptic scenario.
A Scientific estimate by Imperial is e.g. 40 million deaths without any preventive measurements, and that doesn't even include capacity issues.
https://www.imperial.ac.uk/news/1964...ave-caused-40/
Naturally, this in turn would lead to economic collapse as well. The idea we all would happily carry on while morgues overflow is of course absurd.
Imagine stepping out of your door knowing that no medical help will be available no matter what. Mind you, in a world with billions of infected people around you. Would you go to work or shop? On a business trip or holiday? Would there still be police in the street, a fireman, a soldier, a flight attendant willing to work? Would the workers in power stations carry on? In hospitals, in care homes? And also good luck with your amazon order, I am sure the delivery man on minimum wage will risk his life for you.
Now, whether there would have been better strategies time will tell, but it is not as simple as you suggest. Not even close.
For some reason, a lot of pilots seem to always fall for simple and radical solutions, no problem is too complex, we know it all.
Sigh.