I think Ioannidis included that very low number as an example of how ridiculous the statistics can look when using the Diamond Princess as a sample and factoring in the relevant sources of uncertainty.
<<Projecting the Diamond Princess mortality rate onto the age structure of the U.S. population, the death rate among people infected with Covid-19 would be 0.125%. But since this estimate is based on extremely thin data — there were just seven deaths among the 700 infected passengers and crew — the real death rate could stretch from five times lower (0.025%) to five times higher (0.625%). It is also possible that some of the passengers who were infected might die later, and that tourists may have different frequencies of chronic diseases — a risk factor for worse outcomes with SARS-CoV-2 infection — than the general population. Adding these extra sources of uncertainty, reasonable estimates for the case fatality ratio in the general U.S. population vary from 0.05% to 1%.>>
Mainly I think he wants more testing, but people are cherry picking his argument to try to downplay the risk.
His key point from the overall piece is something like "we need more testing, including randomly sampled data. Let's not give up on testing while we ratchet up the countermeasures."
Evidence:
Second graph- <<At a time when everyone needs better information, from disease modelers and governments to people quarantined or just social distancing, we lack reliable evidence on how many people have been infected with SARS-CoV-2 or who continue to become infected. Better information is needed to guide decisions and actions of monumental significance and to monitor their impact.>>
in the middle- <<The most valuable piece of information for answering those questions would be to know the current prevalence of the infection in a random sample of a population and to repeat this exercise at regular time intervals to estimate the incidence of new infections. Sadly, that’s information we don’t have.>>
concluding graph- <<If we decide to jump off the cliff, we need some data to inform us about the rationale of such an action and the chances of landing somewhere safe.>>
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Coming from a different angle, the latest estimate from Wuhan is 1.4% (.9-2.1)
https://www.nature.com/articles/s41591-020-0822-7?mod=articl...