The disease is extremely contagious. Hospitals would've been even more overburdened as they currently are if we just "did nothing" because it would've spread much quicker.
You might get to the point where you need to make a choice between who you're going to accept in the hospital (younger people then get the fast lane over the elder due to potential higher amount of life years being saved). I believe its like that in Italy at this point.
If old people quarantine themselves the chances of them not getting this disease increase. I know a few elder (including loved ones) who I don't want to see passing away, so I have an interest in this.
On a different note, I also find it selfish and distasteful to feel careless about big groups of other people based on discriminatory elements such as age.