In such a situation, old people are going to effectively be left to die, and it'll be younger people who are more likely to survive (which they are anyway, simply by virtue of being young).
The only old people that are likely to benefit are those who manage to live long enough in isolation to not get infected before a vaccine or effective treatment becomes widely available... which could take a long time.
if you come in messed up from a car accident and you need 5 doctors to survive, or those 5 doctors can keep 5 covid patients alive each, you’re going to be left to bleed out. regardless of how young you are.
(i’m not claiming those relative numbers are realistic.)
An unaddressed gap is medical staff on the pandemic front lines without adequate PPE are still shackled by these rules made for a system that is not overwhelmed by a pandemic. These need to be waived for the duration of the emergency.
You aren't thinking of second-order effects.