From a public health point of view, deciding whether you should take the vaccine or not is an undoubtedly selfish and short-sighted way to calculate risks. It assumes that hospitalization carries no second-order risks which simply is not the case.

For any given area, the question that must be asked is if a COVID outbreak were to occur does that given area have the health resources to manage an outbreak. <1% risk is meaningless if you don't have an ICU bed. It becomes a public policy problem when someone in a car accident can not get adequate resources or if nurses are doing 18 hours shifts.