Thing is, now that millions and millions of cases are on record, the Covid survival rate actually is around that value. It varies by location due to medical systems, population age, etc, but the CDC's current best estimate is a US IFR of 0.0065, see top right of table one: https://www.cdc.gov/coronavirus/2019-ncov/hcp/planning-scenarios.html

99.35, 99.80, close enough given that includes all our old people. The rates for younger people are dramatically better - one in ten or twenty thousand.

I don't know if it's social media, the US election cycle, or what, but most everywhere has overreacted put of panic like crazy.

These pandemic plans were made for things like the emergence of a new smallpox, not THIS.