Fyi, the population of the US is approximately 330 million.
As of today, the CDC reports there have been a total of 150 deaths in the US so far from COVID-19.
And of those who contract it, the death rate is around 2 to 4%.
CDC also estimates that in the last 5 months there have been 22,000 - 55,000 deaths from the ordinary flu.
Going overboard with rational precautions is a good thing, but irrational fear is never a good thing.
You really are comparing apples to oranges. The flu season is about over but the Corona virus season has just begun! You can safely assume 70% of the people in the US gets infected at some point. Even at a 2% death rate this means over 4 million people will die in the US alone. More if lots of people get sick at the same time and saturate health care.
The only way to avoid this is to buy time through strict quarantine until there is a vaccine that works.
I'm not sure where you get your numbers from (eg, 70% of people in the US will get infected), and of course you may be right. Of course nobody knows the future on this, and as an engineer I'm sure you're fully aware how difficult/impossible it is to predict the future of just about ANYTHING, so I suppose anything is possible. Anybody can predict anything about this and nobody can challenge it since there's no real data to support it.
But in the US it seems like this week the entire country is shutting down. Most stores are closed, schools are closed at least until April, universities are only online, and it seems like everyone is doing what I referred to as "going overboard with rational precautions". It's a very good thing to be overly precautious at this point, IMO, and it makes the most sense IMO to assume it will have a big impact. Like it has in China apparently.
You might want to check the WHO daily updates and look at the actual numbers. Of course, take any numbers with a grain of salt since it's still very early, but my point was that if you take rational precautions now it's far better than choosing the fear approach, because fear causes folks to do stupid stuff like stock up on toilet paper.
IMO, if you look at the numbers, like an engineer, it helps to erase the fear and focus on the facts and taking intelligent precautions, realizing that time is of the essence since this stuff can spread exponentially, and fear just clouds your judgement.