Take a look at https://www.worldometers.info/coronavirus/#countries, specifically the total deaths and total recovered.

If I take Td / (Td + Tr), I get:

China: 0.05

Italy: 0.44

Iran: 0.14

South Korea: 0.08

Germany: 0.19 (Germany's numbers for both are so low I don't believe this is useful.)

What's up with that?

1. The population of infected people in Italy for some reason include an incredible amount of old people. If you see the aggregates VS South Corea, they have a lot of young people infected. So you get more fatalities per people infected. (Italy population, together with the one in Japan, is the oldest of the world, but this yet does not explain the difference, it's like if the cluster here originated from people at a certain age and also due to sociality patterns of old people here, or more likely, see "2" below).

2. Italy, because of the size of the epidemic event we are facing, is sampling only people that go to the hospital in serious conditions. Other countries are sampling the more general population, finding a lot of positive cases with mild symptoms or asymptomatic at all. So there is a selection bias.

3. It also depends on the way you count people. In Italy we are counting as a COVID19 victim even people severely ill that once dead are positive for the virus.

TLDR: you can't compare such numbers.

How is it “good” when they’re turning away >80 year olds?

Because "good" doesn't mean "infinite capacity", and the sheer number of COVID cases needing IC beds will overtake the number of IC beds in the country if the growth is not checked fast and early.