Taking into account there are ~10000 daily infections (symptomatic and asymptomatic) and not a single death, could be that the death rate of this variant is about between 1/4000-1/10000, closer to South Korea, if 70% percent of the population get infected the death toll of the wave could be in the 100,000-300,000 deaths, still unacceptable. They will have to ramp up censorship to the maximum to avoid panic and avoid fueling the crappy Western mainstream media narrative were 400 deaths dialy is South Korea is seem as a "victory".The danger of not treating this outbreak seriously in China and letting it go out of control is increasing hospitalization and deaths among the elderly. Even though China has by most country standard, a high percentage of its population vaccinated, something like 88%. However we know the elderly is very vulnerable, plus immunity wanes after second shot quite dramatically against omicron. China also does not have mandatory vaccine policy.
So The underlying problem is China massive population that even a small percentage that's either vulnerable or unvaccinated or elderly means alot of people getting wrecked and the hospitals to be overrun if the virus is allowed to let loose freely that western media is dying for China to do aka live with covid. Just 1 percent of 1.3b is already 13m people.