This is no worse than the flu that has already killed thousands
Um, except
1. There is no vaccine
2. Thus far the evidence says it is more transmissible (one infected person with COVID-19 will pass it on to more individuals than a person with flu will)
3. Thus far the evidence says it has a higher mortality rate -- an order of magnitude higher, or more
So yeah, it's worse. We won't have #1 for a while yet, and until we have a better handle on #2 and #3, I am in definitely in favor of society taking precautions to slow the spread of this thing -- to protect the vulnerable population (elderly and immunocompromised) and to keep the healthcare system from being overwhelmed. If that means we reduce our gatherings in arenas, concert halls, and yes, classrooms for a while, so be it.
I'm reminded of the furor over the Y2K Bug in some respects. Y2K was sensationalized by the media (and yes, COVID-19 is definitely being sensationalized too.) There were predictions of mass chaos and a meltdown of society when all our computerized infrastructure would fail. We had hoarders and preppers doing their thing back then too. But with Y2K we clearly knew what the fix was, in advance, and organizations and IT professionals spent years making the changes needed so that in the end, we had an incredibly soft landing with virtually no impact.
With COVID-19, we don't have a fix -- we don't even know the true parameters of what we're dealing with yet. And the impacts are already here. And those impacts are human lives being lost -- not a website crashing or credit card transactions failing.
Yes, it might be that this is being overblown and the spread of the virus will stabilize. I hope so! But it's a spectrum of possible outcomes, ranging from that to millions of lives lost. Given those stakes, how are some of us not on board with collectively taking a pause to let science and medicine try to get ahead of this thing?