More cases means usually faster ability to spread, which again usually indicates that the virus is getting milder, so to answer you first q: yes.At this point covid realistically cannot be eradicated, i would say even if you achieve 80%+ vaccination rate worldwide(which we won't).To answer your second question i doubt we'll have more hospitalizations than delta.And to also state the obvious: by the time we get a 'jab' against omicron, we'll have another variant out there, whether identified & named or not.