It looks like the average mortality rate (estimate) is around 1% according to the expert opinion, as more data comes in this number will change a bit. The hospitalisation rate is about 10% and that is a serious problem, the spread must be contained and slowed to keep the death rate down.
Death rates go up when local health care systems are overwhelmed and people get inadequate care or are told to go home and die. Slowing the spread of the pandemic is crucial to keeping death rates down and reducing public panic with overwhelmed hospitals. Public health, most people will get it, but hopefully not all at once, then you would see a disaster, with a very high mortality rate, look at Iran and even italy.
Unless adequate measures are taken, this epidemic could easily overwhelm the best healthcare system in the world, at least in some cities and regions.