In terms of human suffering/death, it's better to spread out the number of sick people over a longer period of time. There's a finite number of hospital beds and doctors, and you'll get better care if there are fewer other people sick at the same time. It's better for the economy, though, if everyone gets sick as soon as possible, so that everyone gets better at the same time and factories can spin back up.

Deal with each new outbreak quickly and efficiently. The problem in Italy and China was that the outbreak got out of hand before measures to deal were in place, the big deal here seems to be that if people in critical conditions get support with breathing they often pull through, if they don't they die. If you are dealing with 1000's of cases providing supported ventilation is not possible. If you are dealing with 10's then it can be done.