It is absolutely relevant to public policy discussion. Believe it or not public policy DOES put a price on life and for good reason: you cant mitigate away ALL risk of death. Think of speed limits or even the normal flu death rate. You can't have a functioning society if everyone lives in bubbles and drives 5mph because all life must be preserved. Even the CDC acknowledges this, and they themselves calculate on average the economic loss of a human life is 10 million USD over their lifetime. When the mitigation cost (including cascading effects) exceeds this, then its not considered reasonable at a public policy level. You absolutely have to acknowledge the economic impact of lock-down for a virus that has a 0.26% mortality rate overall.