For a lot of people, TB isn't really that big of a deal, but for some people, it means slow painful death. We can say that with many infectious illnesses. It doesn't come close to justifying the response to covid19.
"Fewer people are dieing simply because most of the low hanging fruit has already been picked. If the exposure rate continues to go up, more low hanging fruit will be found."
Where are these low-hanging fruit in Sweden, where there's no lockdown to lift? They've lost less people than countries like the USA, and their death rate has been near-zero for several weeks straight. Your scenario sounds very scary, but it has been tried in the real world, and nothing like that happened.