This is something like saying do seat belts really work?
Furthermore Covid is believed to mutate substantially slower than the flu
> Severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) and Alphainfluenzavirus are RNA viruses that cause coronavirus disease-19 and influenza, respectively. Both viruses infect the respiratory tract, show similar symptoms, and use surface proteins to infect the host. Influenza requires hemagglutinin and neuraminidase to infect, whereas SARS-CoV-2 uses protein S. Both viruses depend on a viral RNA polymerase to express their proteins, but only SARS-CoV-2 has a proofreading mechanism, which results in a low mutation rate compared to influenza.
https://pubmed.ncbi.nlm.nih.gov/33064680/
On the topic of mutations letting it spread through those who aren't AS vulnerable would give it billions of new patients and trillions of new chances to mutate while killing millions of people whose lives could have been saved by a vaccine that is safer than many people's weekly commute to work.
If we vaccinate the vulnerable but ease off the rest of the population we'll be better off longer term with less harmful variants.