We may not care about R so much if people aren't dying of covid
Given that the restrictions cause significant harm, we have to not care if people aren't dying of covid, just because the restrictions that lockdown bring (lack of exercise, over-eating, poverty, mental health) have much longer timescales on deaths doesn't mean that the harm isn't happening.
Unfortunately we don't have data on how many people have managed to replace their day-to-day moving with exercise after becoming more home bound, and how many have managed to reduce their calorie intake to make up for the 15-20% less they'll typically burn, we really need it though to find out the harm that it's causing.