What does cause harm is the artificial disruption of the economical system by government action. A lock down in Austalia, or in other well devoleped countries, is annoying to the people, it causes difficulties, loss of money, possible unemployment and such things.
But a lock down in a underdeveloped country is a totally different ball game. There are plenty of countries, where the majority of people cannot stay at home - many don't even have a home to stay in. They cannot stop working, or their family has nothing to eat anymore after 3 days.
To expect to control the virus by installing rules in such countries is just unworldly. And as long as the virus can roam freely among a third of the worlds population, there is no way to shield the other two thirds and return to a normal life style.
It seems we have to endure more difficulties for quiete a while before things get better again. As you say, viruses tend to mutate - they can get worse, but they can also get harmless. Lets see which one it is this time.
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The irony is that the government complains about the fact that the economy is poor, which is arguably a measure that they use for their own success (which drives tax revenues, and other public services) - but... there's such a lack of preparation for such things - with no economic reserve, or levers to pull - instead "legislation" on the go, in response to these things.
Ie, no "business continuity plans" - or crisis management. Just a blank book where new rules are written. Hopefully, some rules are written for any such future events as an outcome of the events of recent times.
Well, there are only 2 options really - just to say "shit happens" and to carry on like before, or to try to counteract somehow by rules and orders. Of course nobody really knows what needs to be done, since its 100 years ago that something similar happened. And the life was totally different back then, as were the ethical standards.
So what they do now is more or less educated guessing and learning by doing. And nothing that can be done will be very popular, since it always means restrictions and financial losses for the people.