Back in March all of the graphs showed that the infection rate shot up, and the death rate shot up with it (there was a minor lag in the curve between the two, which signified the time from infection to death). Why? Because we were only really testing people that were ill enough to be admitted to hospital or strongly suspected of having the virus. We therefore had strong correlation between the two (infection and hospitalisation/death) and we thought that the virus was very deadly as it was killing about 2-4% of those testing positive for infection.
Now, nearly six months on, we have a massive spike in the infection rate, but the death rate and hospitalisation rate are a LOT lower, in fact, they barely register on the graphs. Why? It's the same virus and has not mutated (much) so what is the data telling us?
Its telling me that back in March and April millions more people had the virus than were tested or detected. Many people wouldn't have known about it, and for some it was a bit of an inconvenience. But if there is statistical correlation between the current infection and death rate that is no different to March due to it being the same virus, then the infection rate back in March MUST have been way, way higher than it currently is. In other words, we just didn't know about it or how far it had spread through society, and we couldn't have as we weren't testing everyone, just the very tip of the iceberg. But we are testing a lot more now, so we can see it more readily.
Now that we are testing FAR more people we will see that it's not only more prevalent than we think, but also that it's a lot less deadly than we think too. I predict that the infection rate will rise further, but the death and hospitalisation rate will not go near to the rates we saw in March/April due to the controls we have in place now, which will limit the spread, but also due to the much-maligned impact of herd immunity, which really can play a part in making a population largely tolerant to a virus.