Not sure what the implied IFR of your scenario is, but FWIW John Ioannidis has the global IFR at .15%. Furthermore SARS-2 is so incredibly age stratified wrt risk (something we conveniently ignore in public health mandates) that non-1st-world countries can have incredibly low death rates since fewer people survive to old age (and there is relatively less prevalence of diseases of modernity). Whereas the data I’ve seen for the increases in global poverty, child starvation, missed medical appointments and missed [non-COVID] vaccinations is staggering. Yet another cost of a one-size-fits-all approach taken across the globe.
Take a look through a dataset of COVID deaths and you’ll notice something that gets lip service but isn’t talked about nearly enough:
https://datacatalog.cookcountyil.gov/widgets/3trz-enys
Diseases of modernity.