The last wave amplified the difference. In the UK for example the last wave doesn't show up in the ICU patients chart [1], while it's clearly seen in the death chart [2]. The last wave seems to simultaneously correspond to a sudden spike in death statistics [2] and a sudden drop in excess mortality [3]. Point being, "deaths with COVID" doesn't mean a causal relationship any more, you need to look at other statistics to see how many people are dying as a result of COVID.

[1]: https://ourworldindata.org/explorers/coronavirus-data-explor...

[2]: https://ourworldindata.org/explorers/coronavirus-data-explor...

[3]: https://ourworldindata.org/explorers/coronavirus-data-explor...

It's quantitatively much different now.[0] There's been a crowd pushing the idea that the hospitalization numbers are highly misleading for two years now, and they're trying to claim that they were right all along based on numbers that are only happening after a year or vaccination campaigns and a less-lung-oriented strain emerging.

"About 7% of L.A. County’s total staffed ICU beds are taken up by COVID-19 patients, compared with 15% during the summer Delta wave and more than 50% last winter. "

"In early November — before Omicron swept around the world, and Delta was still dominant — 75% of coronavirus-positive patients countywide were in the hospital for COVID-related medical issues, Ferrer said.

By late December, the same was true for 45% of coronavirus-positive hospitalized patients, Ferrer estimated."

"During last winter’s COVID-19 surge, about 80% of coronavirus-positive patients in the emergency department at L.A. County-USC Medical Center were being admitted to the hospital, and nearly half of those went to the ICU, Spellberg said. Now, about a third of coronavirus-positive patients are admitted, and 20% to 25% are going to the ICU."

[0] https://www.latimes.com/california/story/2022-01-07/fewer-co...

Well, excess mortality was high earlier and is now low. The current Covid strain is both more infectious and less deadly so we should expect this change