The only good news that I am getting out of this, is that NYC seems to have avoided the dreaded 3-5% fatality rate that was the presumed worse case scenario (massive community spread, overloaded healthcare system). But the lockdown likely helped a lot, and it seems like they are seeing around 1% IFR, so I am not sure this really changes anything. Our understanding of the disease and how to treat it may also be getting better, but it still seems like if we let this thing run wild through the population (as some people on here are proposing) local health care systems will collapse and we will have a IFR orders of magnitude higher than the flu.
And as you pointed out, if the study came back with an infection rate of 50%, I am not sure I would consider that good news either. That means it would be nearly impossible to isolate vulnerable populations. So while a 50% infection rate would mean the IFR is lower, it also means opening things back up and only isolating the vulnerable would not work to protect them.