The bottom line is that the coronavirus is expected to be about as deadly as the Spanish flu of 1918-1920. The coronavirus will eventually spread throughout the population, but if it spreads too rapidly, hospitals will be overwhelmed. For example, the seriously ill will need ventilators but there are only so many ventilators available in hospitals throughout the country. If they reach max capacity, anyone else who needs one but can't get access will die. That's why schools and non-essential businesses are being told to close, "social distancing" is being recommended, etc. They are trying to slow the spread of the virus.
With businesses closing, 20% or more of the population may find themselves suddenly without a job. That's why Mit Romney and others are advocating a universal basic income--so people who are forced out of work can still have some money coming in to survive.
People are being told to stay at home unless travel is essential; for example, to shop for groceries. People who test positive for the coronavirus may be forced into quarantine. I've already heard of one case of someone who left a hospital after treatment for COVID-19 and refused to self-quarantine, so the authorities enforced the quarantine on him. This is not a joke. Every effort must be made to slow the spread of this virus.