In particular, the whole-population rate is <= 0.5%. (International agencies and other governments say 0.5%, the CDC says (1-.3)*.4%).
That includes asymptomatic and undiagnosed people. Case fatality rates only include diagnosed cases. Clearly, if you are diagnosed with the virus, you are more likely to die from it than an asymptomatic person, or a person with minor symptoms that doesn’t bother to call a doctor.
It is true that, at 100% infection rate, it would be the leading cause of death this year. The thing is, it’s a one time hit to life expectancies, so it’s not really comparable to the other risks.
That means it can be the number one cause of death, even though 99.5% of the people that catch it will recover and die of something else.