I am not talking about entirely asymptomatic cases, which I believe are fairly rare. I am talking about mild cases which could be easily mistaken for a common cold, which is the most common presentation.
I think what you may be missing is that 100,000 people in WA could have gone to their doctor last week with “a cold” and they wouldn’t have been tested for COVID, because the FDA would not allow state labs to run the tests and the CDC refused to run it on mild cases.
I use the example of WA because it’s glaringly obvious that a lack of testing has resulted in a significant number of cases going undetected over the last couple weeks in that area.
The old CDC guidelines only allowed severe cases to be tested, so the only confirmed COVID cases were severe. Resulting in a “fatality rate” that was pushing 10%.
So it’s just an example of how this number is inflated by lack of testing. I believe a similar situation is playing out in Italy.
By comparison, South Korea has an extremely robust testing regime (free drive through testing stations, over 100,000 tested, capacity of over 10,000 per day) [1] and has identified 6,284 cases and has seen 40 deaths with currently 52 in serious condition. That puts their “known case fatality rate” at 0.6%-1.5%.
Simply put, the “known case fatality rate” can only possibly overstate the actual fatality rate, unless you believe there are deaths due to COVID happening that are being misattributed. This is obviously an entirely different category of error than not testing someone with a mild cold.
It’s useful to take what we know about “known case fatality rate” in heavily-tested populations and we can use this to estimate how many undetected cases are present in the population in under-testing locales. E.g. 10 COVID deaths would point to the likelihood of over 1,000 actual cases of COVID in the community. This of course assumes similar demographics and standards of care, which may not be the case.
[1] - https://www.ctvnews.ca/health/south-korea-takes-fast-food-ap...