The 2% figure comes directly from dividing deaths by identified cases. Because it takes a while to kill and new cases are growing exponentially this figure is very likely an underestimate. (not certainly an underestimate because non-severe cases are less likely to get counted)
Instead, you can gauge mortality by looking at deaths/(deaths+recoveries). With this method you get a number around 7%. This can produce an overestimate, either because recovery takes a long time or because non-severe cases don't get counted.
This question was also asked about SARS and it turns out that for SARS deaths/cases was a massive underestimate until the rate of the rate of new infections decreased. For SARS d/(d+r) was a much more accurate estimation at all times.
https://blog.zorinaq.com/case-fatality-ratio-ncov/
2% and 7% are both pretty bad, but they have distinctive public policy implications. I hope we're not making bad decisions simply because people handle exponential processes poorly.
Has anyone seen death and recovery by age? I think it would be interesting to estimate mortality by age using the d/(d+r) method, and perhaps contemplate what effect that might have on the composition of the US senate. :-/