I think that what's happened is the opposite - the young have been thrown under the bus (even disregarding social activity we have things like school closures, university admissions, exams cancelled), and that economic activity is being hindered unnecessarily, which is having enormous knock-on effects already which will persist for a generation.
I think that the appropriate response is for the vulnerable (old, immunocompromised, or really just anyone with low risk tolerance) to isolate and be given the resources to do so.
Care homes, for example, should be dealt with via paying the staff much higher salaries and having them stay on-site, effectively 'sealing off' the care home and creating an isolated unit.
If you're poor and have to go to work, you should be given enough money such that it's your free choice and you can stay at home if you want.
My vulnerable friends and family are forced into doing this, lockdown or no lockdown, they're disinfecting packages, haven't been outside for months, and probably will be forced into a "new way of life" for the foreseeable future.
This is the sort of thing that we should be using the severe lockdown time for - determining an appropriate way of protecting the individuals which we know to have very high fatality/complication rates - the people for whom we're bothering to do this at all.
What I strongly disagree with is the idea that the lives of the healthy should be deleted in some asinine attempt to drag out the (in my view, inevitable) death toll over a multi-year period.