At that point you have shortages elsewhere (and that _is_ happening to some extent in some places; hospitals are delaying routine procedures to keep the ICUs running at full capacity). It's not a great solution, especially if it goes on a long time; when you start delaying routine things for years, you start seeing serious problems.

Realistically, the only viable course is probably to vaccinate and boost as many people as humanly possible, and await better vaccines and therapeutics. Paxlovid should hopefully help when it's available in quantity.