Remember: the correct recation to a situation like this will probably look like an extreme overreaction.
There is basically no way of telling the adequate response from a complete overreaction right now.
Even if it turns out that in the end the IFR of the disease was just 0.1%, or that 50% had existing immunity... then that will only change after the fact what would have been the correct response. The decision needs to be made without that information.