1. 87% less of a lot isn't a little. It can still be a lot.
2. "Fatality rate" isn't a number that just floats in the air by itself. It's a factor in the equation deaths = case_count * fatality_rate, and the case_count term has skyrocketed.
3. Deaths aren't the only thing to worry about. Hospitalizations that don't result in a fatality are nothing to sneeze at. Ditto for other kinds of bad outcomes. Where's the concern about COVID-caused myocarditis?