The link you cite is a very rough estimate of CFR as described in the paper. CFR varies tremendously based on the underlying demographics of the population and the treatment available - it's unclear why you focus on this metric. COVID-19 in the United States and other countries as well will be (if it isn't already) the 3rd leading cause of death. This is something that many people will change their behavior around, whether that is "panicking" or not is unclear from your original post.

However, if folks are willing to wear seat belts (although in the vast majority of trips they are useless) for a less likely cause of death, many will put on masks, avoided crowded indoor spaces and practice better hygiene for the 3rd leading cause of death. This will occur whether legally mandated or not.