[fyfy18]

You missed one major point. That IFR is with the restrictions in place. If they were lifted it would be higher.

[nradov]

IFR is simply the percentage of those infected who die. Lifting the restrictions might cause more deaths, but it wouldn't change the IFR.

[pjc50]

The fatality rate is dependent on overall infection rate, because treatment capacity is finite and once it goes above capacity people who might have lived get parked on trolleys in the hospital corridors to die.