IFR means "infection fatality rate". The operative word is rate. So no, you are completely wrong.

You are comparing number of deaths as opposed to rate of death per infection. The number of COVID infections are orders of magnitude higher than the number of flu infections. The rate of death from COVID per infection is now lower than the flu.

https://www.ft.com/content/e26c93a0-90e7-4dec-a796-3e25e94bc...