I think the clues are lockdowns. Not living like this till a vaccine is found
The only stable way to manage this is through suppression,
to try and control it at a level to get herd immunity without crashing the NHS is incredibly unstable and would take a lot longer than getting a vaccine so why waste time and lives and money following a path that will be rendered pointless in the medium term ?
You want people to go about normal life as much as possible yet you need to be prepared to squash it wherever it rears
If , once we are back in control , you follow a quarentine, testing and tracing approach with mini lockdowns where you might have a problem then you stand a chance
It not about this lockdown continuing for ever. And the more you can do the testing and tracing and fast response the shorter and more geographically confined the subsequent lockdowns can be. Wuhan needed the longest lockdown in China because it had the biggest number of cases before lockdown