Why compare Australia only?
The number of people globally that die from the flu each year is between 250K-650K depending on the severity.
The number of deaths globally from covid is 6.5M! Not quite 3 years and it is almost 2.2M deaths per year.
Based on the reported covid infections the death rate is 1.1% globally. Yes the numbers are debatable. Maybe the number of infections should be double and the deaths halved but then you need to filter out those infected twice or 3 times. Still significant numbers.
Also at 590M the number of infections are ~200M a year. I can't find a statistic for how many flu infections a year. But at 200M for covid that's quite high. And possibly even higher if not all reported.
You’ve sort of addressed your own concern there. Obviously all are not reported. While Australians may have the privilege of being able to shart their pants and line up for hours to get a free covid test, the vast majority of the world can’t (and doesn’t). Realistic infection rates have been quoted by the WHO as being probably 10 times higher than reported. That significantly reduces that death rate. Let’s not forget that we now have easy access to a vaccine that’s close to 100% effective and antivirals that have similar success.
Trying to use 2020 experience to assess 2022+ outcomes is totally pointless as we are now in a position where we can easily treat the virus, and the virus itself has mutated into something far less severe.
A bit like the mask argument. We’ve flogged it for 2 and a half years and they’ve been fairly unsuccessful, yet many hold onto them as their savior. What do they say about repeating the same thing and expecting a different result?