Yes, I think the government have over reacted in many ways to the virus, mainly due to the unknowns (I.e will the vaccine be effective due to mutations/ similar to the seasonal flu) that it has and how highly the government has placed it above all other factors the country has to stay afloat, my thought is the current band aid on the world economics will only last so long and Australia will not come out of this very well.
The link below will give an understanding of other illnesses with higher mortality rates, you can filter it by country etc.
View selected causes of death and population dynamics for United States including Life Expectancy by age and history, age adjusted death rates and world rankings for the top 50 causes and total deaths by cause.
www.worldlifeexpectancy.com