That's not a one time risk though! So far it seems a person can be infected multiple times.

Say you get Covid once a year, that's 0.004% per year. Also, wether you need hospitalisation or not, doesn't change the fact that some people are having permanent issues like lost their stamina, hair loss, loss of smell. I have a coworker with neurological issues, but he is not in a hospital.

So the big question is: how effective are the vaccines against long Covid?

And we need that number at or below 0.001% or Covid will overtake other diseases in terms of life expectancies and QoL implications. Assuming we would get once every one to two years.

That's just too much rounds of Russian roulette.