There was absolutely no point where anyone was claiming the death rate was over 50% based on actual data.

Early estimates were 10% (based on symptomatic cases) but with better testing proved to be closer to 2%. This is similar to the Spanish flu's mortality rate.

It mutated to be less deathly from there, down to less than 0.5% for the unvaccinated. About as deadly as common flu strains.

If we had allowed it to spread in freely that could have been 350 million dead. That's a large pile of dead people to deal with. That was the concern. It would have overwhelmed everything.