Death rate will be lower if we use this time to develop treatments that actually help, and it will help avoid overburdening the health system. Not clear you can magically prevent all deaths. But, if you find some drugs that are partially effective, that will help. We're also learning more about how the disease affects people that could drive treatment and testing strategies, such as understanding clotting risks, transmission rates, etc.
The point of health authorities is that freedom to choose isn't a viable option that results in reasonable outcomes until (a) you understand the scale of the problem, (b) you address the initial outbreak down to a low enough level, and (c) you have mechanisms in place to deal with outbreaks.
We've had far too much attention to the initial ~5 weeks of lockdown and the next 2 or 3 that we're going to have of shutdown - the initial medical supplies, stimulus, etc. What we really need to focus on more is how we get reopen in a way that is sustainable. The Feds have not given us the capabilities we need for this to be sustainable. That's very concerning.
The US needs to be able to test at a much, much higher rate per day, with much faster results, and with much faster communication to potentially affected individuals. The fact that our testing capability has basically not improved for the entire month of April is insane.