Why are we risking so much of the economy and placing a population on lockdown that likely will have very low fatalities?

People keep saying we need to listen to science in this pandemic, well research from John loannidis, a professor at Stanford’s school of medicine who is ranked by Google Scholar as one of the world’s 100 most cited scientists, has some interesting points. His study looked at blood tests of 3,300 volunteers in Santa Clara County and from it they estimate 2.49% to 4.16% of the population in the county had been infected. This would amount to total cases that exceed the current confirmed count by 50 – 85 times. This would also produce a fatality rate between 0.12% and 0.2%. In a recent paper with his wife, Despina Contopoulos-Ioannidis, an infectious disease specialist at Stanford (Talk about a power couple!), they found in Italy people under 65 without underlying conditions accounted for 0.7% of Coronavirus deaths and in New York City that number was just 1.8%. With these numbers the fatality for those under 65 without underlying conditions would be outrageously low! Professor loannidis was quoted in The Wall Street Journal saying, “There’s far, far, far, more. . . young people who commit suicide” and that “we will see many young people committing suicide. . . just because we are spreading horror stories with Covid-19. There’s far, far more young people who get cancer and will not be treated, because again, they will not go to the hospital to get treated because of Covid-19. There’s far, far more people whose mental health will collapse.” The interesting thing about the interview is that John loannidis generally describes himself as a pessimist, but from his research in this case he says he’s probably an optimist. My point here again is that we still need to try and do as much as we can to protect those at risk, but why are we risking so much of the economy and placing a population on lockdown that likely will have very low fatalities?