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There are at least four factors working to mitigate the severity and length of an epidemic/pandemic. One is our own immune systems that are fully up to the task. The second are post-infectious treatments for immune systems not quite up to the task. A third is a vaccination that achieve immunity without infection. A fourth is the infectious disease itself.
In regards to the latter, the "smart" virus seeks to become less lethal to a host, as this is one of two factors helping it to survive better. The other factor is a suitably lengthy incubation period. The virus becomes "smart" by mutating. Those that mutate quickly tend to be "smarter" than those that don't. (Yes, I am grossly anthropomorphizing). Allegedly (I have not seen confirming research) this is a fast mutating virus.
So we have a situation where those under sixty tend to satisfy the first factor and several post-infectious treatments in clinical trials that are promising for the second factor, plus doctors already are using some of those post-infectious treatments with anecdotal success. If the virus also "learns" quickly, the continued length and severity of COVID-19 should be shortened greatly even in the absence of a vaccine .....
...... though a vaccine, of course, results in far, far greater profits than even post-infectious treatments.
While your statement about viruses tending to mutate to a less lethal mutation, this is driven by the evolutionary pressure to not kill the host so the virus can spread more widely. Given that this appears to be a virus that is asymptomatic for days while the virus is spread, there is reason to think that this virus may not mutate to a less lethal form.