Is the COVID 19 really as bad as the portrayal in the media?

https://www.msn.com/en-us/news/coronavirus?ocid=spartanntp 400,000+ cases of COVID 19, 280K active in treatment, 107K cured and 18K resulted in fatalities world wide. That is a fatality rate of about 4.5% while considerably higher that seasonal flu, it doesn't seem like bodies stacked in the streets plague. Is it really worth damaging the economy in ways that will be felt for several years for some?