- not all cases detected
- deaths are a laggy indicator
- recoveries are an extremely laggy indicator
- impact of demographics, healthcare quality
- sizes of effects of all 4 previous things depends on the country and the time
This has led to internet commentators coming up with wild numbers, ranging from 0.1% to 20%. At the risk of sounding like a spoilsport, I suggest we all defer to the expert numbers (2-3%), because the experts are perfectly aware of all 5 effects I mentioned, and more, and have already tried their best to correct for them, using better data than we have.