This approach sounds very similar to the UK approach, overseen by Whitty[0] and Vallance[1], and agreed with by Neal[2] and Ferguson[3] (and I assume more but I haven't looked very hard). I don't think all these guys are morons. Well, I hope they're not.
[0] Chris Whitty, UK Chief Medical Officer https://en.wikipedia.org/wiki/Chris_Whitty
[1] Patrick Vallance, UK Chief Science Officer https://en.wikipedia.org/wiki/Patrick_Vallance
[2] Keith Neal, Professor Emeritus - Epidemiology of Infectious Diseases, Univ of Nottingham https://uk.linkedin.com/in/keith-neal-1818b391
https://www.nottinghampost.com/news/nottingham-news/nottingh... (there was a better quote on the BBC but I can't find it now)
[3] Neil Ferguson, https://www.imperial.ac.uk/people/neil.ferguson Haven't got a link but I heard him speak on UK Radio 4's Today programme this morning.