One choice is providing some opportunity for further life beyond what's expected. That's generally considered something society likes but isn't obligated to provide. Society doesn't obligate it's member to spend money developing some miracle-extend that gives someone five more years.
The other choice is taking life that would normally be expected. That is something that society very much frowns on. If you could protect someone and you don't do it 'cause it would cost you money, you may wind-up in jail for murder.
Very quantitatively oriented people seem to have a hard time grasping why there's a difference here. But I think it's very rational in an evolutionary game-theoretic compact kind of way. Everyone is a member of society and values everyone else's life highly, more highly than immediate material things though maybe not more highly than other people's lives. This gives member of society basic security - you are thinking my insulin might worth just stealing and selling on the open market, me murdering you first might be my best strategy. You can see where things break down? The "social contract" is kind of the way around this.
And not doing anything (pretend it's just the flu) will result in 50M dead world wide. Everyone worried about a new depression should realize one is going to happen no matter what we do now. The only thing we can do is act in a humane fashion.
Where do you get your 50M worldwide figure? When a new flu appears, Neil Ferguson claims his 3K lies of undocumented C code forecast 200M will die. These numbers are all speculation and worse predictors than throwing darts at a board behind your back.
If you look worldwide, there are 7.8B people. If herd immunity takes 60% of the population becoming infected, that's 4.6B infections. With an IFR of 1%, that's 46.8M deaths. 460M hospitalizations (where possible).
Even say the IFR is overstated as some like. Say it's a magnitude less, comparable to the flu at .1% Now you are down to 4.7M deaths, but still the 460M hospitalizations. Still one of the most serious crises in the last 100 years.