There is a happy medium between optimism and total panic based on the evidence to date.
It is looking milder. We don’t know it at 99% confidence yet, but most data is pointing in that direction.
It is, also, highly transmissible (best estimate of r in immunonaive is about 8-9) and has a short incubation period (2-3 days).
However double vaccinated people are highly unlikely to be hospitalised, and triple vaccinated are likely (75%) to be protected or asymptomatic. We don’t yet know about previously infected but, again, unlikely to suffer severe illness.
And, within 100 days or so, we will have more specific vaccines and antiviral pills.
However, with a vast tide of infection, even a tiny proportion being hospitalised will overwhelm our rather pathetic NHS.
I think our response is about right: get everyone triple jabbed (though I think this should include children too) and put in sensible restrictions for those who refuse jabs.
We, as a species, are rapidly adapting to Covid, as it is adapting to us. In a year or two, we will lead a happy symbiotic existence with our little spiky friend. In the interim, we just need to be a bit sensible.