> The current best science answer to how many people remain susceptible to infection is "nobody really knows but our best guess is not to assume the best case without better evidence so act like the worst case".
Absolutely not. The scientific approach is to look at the new disease and see how it compares to other similar RTIs. For instance, covid19 was discovered around October at the start of the seasonal flu season in the northern hemisphere and it was a coronavirus, which makes it 95% likely to be strongly seasonal, highly infectious, and mild. It also should lead us to assume that exposure to prior viruses gives (some) protection, and that the elderly and immunocompromised are the most at risk. In addition, we know that diseases like this spread highly unevenly (powerlaw distribution) with a small number of big hotspots and many places that are left largely unaffected.
This is the BASELINE SCENARIO, based on the knowledge we have of hundreds of similar respiratory infections. Covid19 could be a different animal, but for that we'd have to carefully look at the data.
But what did we do? We took seriously the doom-saying of scientists that extrapolated from comically unrepresentative cruise ship data and other hot spots. This is junk science, because data from a hot spot doesn't say --anything-- about how infectious a hotspot disease is or how deadly, except that it's possible for people to die from it, but that's also entirely unsurprising for a RTI.
> At the peak of this epidemic in hard-hit places like the UK, something like only 1 in 400 people are known to have been infected at a time.
Impossible. Covid reached Europe by December, and has spread like wildfire since.
> Many younger people (as much as 70%) show absolutely no symptoms when they are infected.
Oh no, way more than 70%. How many kids got visible symptoms? Close to zero. And many got infected because the virus is absolutely everywhere. At least 70% of people in the 50-65 age group have no visible symptoms, so for young people the number must be drastically higher.
> The disease is astronomically worse for elderly people.
All cause mortality isn't high worldwide. We had two mild flu seasons in a row and that left us with many elderly with a negative life expectancy.