Both.
You can't compare this lockdown to the first in terms of reduction in numbers because they weren't testing much until Mayish.
The fact that we seem to be plateaued on about 5k a day does seem to me to be a worry though. In July we were about 5k a week, and this government tends to be slow to act, which means if we get a variant that is resistant to the vaccines or something else changes the situation, then we could shoot up again.
It does worry me that I hear people talk about the "low" case numbers. Realistically: no we're not low. We may be at 10% of the height of the peak, but 5k a day is not low, and it's very easy for people to get complacent and think that it doesn't matter any more, because "hardly anyone has it".
If you look at the heat maps you can see the situation in secondary schools in particular could be critical.
UK has done well with vaccines. Now remains to be seen if they can continue to be ahead of the game here. Hopefully they use the leeway we have been given with them to make sure we won't be getting seriously rising figures again.