Well, I guess the (somewhat cynical) calculus most politicians/bureaucrats make is that however many people become ill in the long term, it's probably less expensive than lockdowns (even if lockdowns are less expensive than health system collapse and mass death).

As much as the long term health implications of covid are unfolding, so to are the economic effects: we're in a really weird and volatile economic situation, and things that move the needle on basics (food, fuel, etc) kill a lot of people.