It's probably more apt to state that the 1918 Pandemic was worse than the 2019/2020/2021 Pandemic - probably true. Virus to virus? Probably not.
The lower bound on Spanish flu's IFR is 3%. Covid's IFR is around 1%, and almost all of that is in old and sick people. Spanish flu killed far more at far younger ages. Had covid hit a century ago, its IFR would likely be lower because those hit worst by the covid (the old and sick) would have already died of something else.
Again, Spanish flu infected 1/3rd of the world and killed at least 1% of the world population. It was the last time in history that human population declined over a year. Even in 3rd world countries, covid can't approach that level of lethality.
I'm not trying to imply that Spanish Flu was not a killer - my home country of India suffered ~ 13 millions deaths. Yet the policies of the Colonial Administration also made a bad situation much worse. My suspicion is that given those circumstances, COVID would be just as bad, if not worse. At this point we can only speculate.
If a pathogen with identical risks and outcomes struck today, I guarantee government restrictions would be greater than in the past.