Mrgoodkat is quite right that - on the whole - the reaction to this virus is over the top and most of the damage is being caused by this reaction and not the virus itself. Others are right to point out that individual people are not statistics and that anyone getting it and dying from it (or having a relative die from it) don't see it that way. But Governments need to operate on the basis of probabilities and "the greater good". Its not clear to me that this is actually occuring. The WHO says "don't close borders" yet much of the world already has. Economic harm does not just result is loss of money, it also kills people - through starvation if they cannot buy food for themselves or their children; or pay for medicine when they need it etc etc. Economic loss is not just on paper, it also affects people and the economic loss is affecting more people than the virus (by some order of magnitude).
Should Wuhan have been shut down? Absolutely. But the rest of it? That's more dubious. Much of this is clearly the fault of the CCP and it's secretive nature and perhaps that's the more reasonable thing to fear, rather than the virus. On balance, I think some prudent measures related to hand-washing, making masks and sanitizer available and beefing up the health response capabilities at clinics and hospitals may have been all we really should be doing (outside of China).