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One of the sad realities of letting covid run in the community is that those in aged care and those that are vulnerable will be shut off from having a normal life and consigned to a jail like existence, again comes down to what price is freedom for the rest of us. I have family in aged care, and they are have been in lockdown for most of this pandemic. Are you all willing to work hard all life and then be jailed in retirement instead of being able to travel? What is done to the old and frail in this instance will set the tone for how you are treated later in life.
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Agree with you on the comparative risk analysis (which our leaders and health authorities seen unable to convey), but your paragraph on the elderly is confusing to me - you seem to conclude that they will be imprisoned either way, whether through letting covid run, or in protective lockdown with everyone else?
However, to bite the bullet of your warning re the elderly, I would suggest that our economic ability to provide for this section of society (which was already under growing strain with retiring baby boomers and increased retired life expectancy) is dependent upon the younger part of the population being able to get back to wealth creating work that can underpin such welfare.
I would add that I'm elderly, fully vaccinated (AZ, nil ill-effect) and with no intention of being "jailed in retirement", as you put it!