Once a vaccine that works is out I’m sure most of the world will get it. The lockdown is all about preventing (early) deaths.
It is unclear if you can continue playing whack-a-mole with quarantine measures for the next 1-2 years. It's possible but unlikely, at least in the West.
The UK's gambit is that by timing stricter quarantine measures they can cut the head off the peak, while slowing down spread due to some immunity in the population. This may work if the risk groups can indeed self-isolate for 4 months, and if more ventilators can be manufactured at speed.
It will still be devastating.
It will be interesting to see what happens in China after people return to work.
Either way, I think we are looking at bans on international travel to continue for many months to come.
You are NOT flattening jack shit by having all your young population become infected!! [0]
They are NOT gonna mass transport ALL the elderly population to a far away island and isolate them there, they all are gonna get infected and the NHS is going to collapse because of it
There already have been cases documented of people getting infected because of unsealed bathroom toilet pipes on apartment buildings... [1]
[0] https://youtu.be/C98FmoZVbjs?t=693
[1] https://www.scmp.com/news/hong-kong/health-environment/artic...
Also, it becoming seasonal could also be a self fulfilling prophecy due to its policy.