Coronavirus is a virus and isn’t alive. The alcohol disrupts the outer lipid layer which deactivates the virus. So 70% doesn’t apply here.
You should absolutely wash hands too, but there are a lot of reasons for portable hand sanitizers.
the amount of friction presented by washing likely produces a more ideal balance between considerations like infection reduction, evolutionary pressure, and hypochondria/mysophobia inducement. the simple rule of thumb is to wash around waste, food prep/consumption, and illness. more than that, especially most sanitizer use because it's mostly outside of these situations, is likely a net-negative.
It dissolves the lipid shell and denatures key proteins in the shell. This is not subtle.
In the evolutionary influence perspective for a microbe, it also still isn’t particularly common. Triclosan and the other problematic chemicals are much more targeted and more problematic from a resistance perspective because of it.
I have a 2 year supply of isopropyl alcohol now. I hoarded last year and have way more than I will need because I stopped cleaning groceries and washing down countertops because I stopped believing it did anything. But better save than sorry!
A number of them have been made from the heads and tails of normal spirit distillation process (which are waste products), or are distilled with other organic waste products (like dog food process waste), which often smell awful and are super sticky.
We bought another gallon from a cosmetics supply wholesaler and it was much less stinky.