Re: prepping for known unknowns.
That valuation framework has also existed historically in terms of the periodic low-key freakouts about bird flu, swine flu, etc. Also the periodic filling of hospitals during flu season (though, it has been stated here and elsewhere that hospitals filling up is frequently just a feature of how the healthcare system is run).
I think there would be a lot more useful debate if 1) people admitted that there is nothing truly unique in kind about the current situation (just degree) and 2) the "return to normal number," however that number is defined, is a real thing. The folks more concerned about the virus could advocate for more stringent constraints on reopening and vice versa. But people would at least be using a common framework that's grounded in the reality that people are willing to live with a certain amount of risk without doing much about it.