I'm wondering--are the 2nd and 3rd flare ups/peaks going to have the same kinds of numbers and/or rapid increases?
Barring stretching it out so long that we reach herd immunity or a vaccine, the net area under the curve(s) are probably going to be the same, whether it's one quick, horrible spike, or 3-4 flatter peaks. Some of the unknowns on re-infection obviously matter and can't be determined yet. But assuming a vast majority don't get reinfected in the near future again and we don't reach herd immunity levels, then the number of infected is going to end up being largely the same. As has been shown repeatedly, "mortality rate" is not an independent number. It is extremely reliant on whether or not you stay close to hospital capacity.
Personally I think waiting out a vaccine is a pipe dream for most people, so really it comes down to having the rate of "currently hospitalized" at or below capacity.
One of the issues I have is people look at new cases and think the sky is falling. More people are going to keep getting infected for quite some time. In fact the number of "currently hospitalized" is likely going to keep going up for a while, and that's OK as long as we still have capacity. The reality with deaths is that they will go up no matter what we do right now. There are people currently in the early stages of infection that are going to die. And we still have ICU capacity and vents to deal with them, so there is nothing in terms of care/treatment that we can do differently.
But what we need to do is make sure that number of "currently hospitalized" grows slowly and eventually peaks at a point around our capacity or below plus get more ventilators available. That will keep the deaths at a "best case" mortality where we are not limiting recovery by lack of resources.