Basically, when you're in free fall and the parachute slows you down comfortably, don't take that as the cue to cut your chute.
Also you may have overlooked adequate testing availability and contact tracing.
And even if contact-tracing is lagging, an abundant supply of testing can at least help to ensure that symptomless or incubating-but-not-showing-symptoms-yet infections can be identified early to prevent wildfire-type spread.
My guess would be that with more tests and resources available, start with a stuttered type approach, open for 2-3 weeks, then lockdown for 2-3 weeks while we wait for new infections to manifest symptoms and for infected to quarantine until they're not infectious.
That could serve as a baseline for what to watch for during reopening, to gauge risk as to whether to repeat with some alteration in timing.
Some flavor of mandatory mask/glove/bunny suit wearing and social distancing (e.g. mandatory table-to-table distance at restaurants) would keep the curve flat while allowing a majority of day-to-day life to resume.
Pharmacological treatments, I'd say.
"Everyone becomes immune" will take longer than vaccine if you don't want to overload your hospitals, and bets on long-term immunity which we don't know yet.
I was there in January and February and had my temperature taken routinely to enter populous shopping areas, tourist-packed areas, transit, etc. Mask usage was mandatory in some cases, like buses. They ensured they had sufficient inventory of masks, and even published it so that you could look up which pharmacy to go to. There were lines down the block outside of them, but they also had a reliable ration available for anyone who would wait.
State-side, I haven't had my temperature checked once. Even when I reentered the US, there wasn't so much as a thermal camera to walk in front of (that I could see, anyway). This was the procedure upon entering both Taiwan and transiting through Japan all the way back in January when cases in Taiwan were in the single digits. I can't even find a single mask here.
People were sensible and conscientious there. People voluntarily cut back their social behaviors, but they haven't enacted a hard shut down. It seems to me that we just haven't implemented any common sense behaviors and expect Trump/the governor/Fauci/whoever to come up with some genius plan to solve the crisis for us.
There seems to only be 3 options:
1: Lockdown forever.
2: Everyone becomes immune.
3: Vaccine.
1 is unrealistic. 3 will take a year. 2 the lockdown is too effective - we need at least some people to get infected, and hospitals to be utilized at a manageable rate.
Is there a 4th option I did not think of? Because I can't figure out how they are going to end this.
I guess reopen a state, let people get infected, then close again? Basically a poorly done version of 2?