For comparison, from what I've read the typical annual influenza fatality rate is around 0.1% (don't know what the under-70 rate would be). So, this puts covid-19 solidly in the uncanny valley of viral mortality rates; not low enough to be "just like a flu", not high enough to justify shutting down the world. No wonder opinions on it are so divided.
(1) A COVID-19 infection can have long-term effects even in young people. (2) We all have seen the images of hospitals overwhelmed with COVID-19 patients, not having enough breathers, etc. For some reason this doesn't happen with the typical annual influenza ... If you reduce everything to statistics about mortality rates, you are missing very important parts of the picture.
(2) Actually we didn't. My wife works in a small city hospital. They only have 4 beds with respirators and almost never had more than 2-3 people at a time there. The city is being locked down the second time because we have 5 infected in 20k. We also had in the region of 20 (real) COVID deaths since March. All over 80.
There is no complete picture as all hospitals and clinics have a financial incentive to declare COVID deaths as opposed to anything else. Some do keep internal unofficial stats but even those are rare.