The mortality rate is still quite uncertain, either you believe the Chinese data (https://www.flattenthecurve.com/) or you can lean towards the South Korean data (https://www.cdc.go.kr/board/board.es?mid=a30402000000&bid=00...). The Korean data has half the mortality rate of that in China.
Bottom-line is that we are doing this to protect the elderly, so that the healthcare system won't be overrun. And in the process hopefully a vaccine or treatment will be introduced to counter the virus.
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