99.5% survival rate = 0.995. Using 7.5 billion people, if all of them got the Coof that would mean that we would expect 7,462,500,000 of them to survive which would unfortunately leave 37,500,000 who would have died as a result.
That's not what we're seeing though. If we use your number of 4.5 million who died from Cov that would be 0.9994 or a 99.94% survival rate or 0.06% death rate.
Both heart disease and cancer have higher death rates and we are not in full panic mode over these. So again, why all the theater?