China has provided roughly a month's advance warning on how this virus plays out in terms of infectivity and severity (~20% of cases are serious / require medical attention, ~5% are critical, and ~2% are fatal).
People prefer to believe that media coverage of the effects in China are fearmongering or even a political "hoax"[1], that it will peter out with warmer weather (it's spread quite quickly in Singapore which is hot and humid at the moment), and that because it's possible to misuse masks and because they don't provide complete protection by themselves they're useless and should be left for healthcare workers[2].
The kind of critical thinking that helps you prepare for things like this seems to be in short supply. Last week people thought I was silly for stocking up on dried goods and essentials, this week every store around me is sold out of hand sanitizer, clorox wipes, and isopropanol.
[0]: Wikipedia, right now
[1]: The US president, at a rally a couple of days ago
[2]: The US surgeon general's twitter page, a couple of days ago