It depends on what you are aiming at. If you are aiming for the herd immunity then the best approach is to get there as quickly as you can, while keeping within the limits of your health care capacity and protecting those with highest risk of severe outcomes. Certain amount of deaths is inevitable.

We really need to wait a year or two before we can tell which strategy was the best. It is not clear if the countries which managed to limit the infections will do any better in the long run than for example Sweden.