The media 'do' what the media 'do'...whether it's a 'bad' flu season, a raging blizzard or hurricane or swarm of tornadoes about to hit, the media hype 'the headlines'. That's how they get eyeballs to watch or read and that spikes their commercial and ad rates.
I think people are misreading this virus. Sure, most people won't get it and / or will survive. Most people survived the 1918 flu pandemic but it killed ~ 50mm people worldwide and ~500,000 in the USA.
The flu kills anywhere from 20,000 - 80,000 people /year here.
The problem with COVID-19 is that it appears to be more infectious than the typical flu and deadlier. Death rates seem to range from 0.5% - 2% and, like the flu, it is deadlier to 'older' people particularly people over 70 and over 80, but it's not a walk in the park for those 60 - 69 either.
We'd be fools to dismiss this and fools to panic, but prudent to be careful.