You'll find that deaths have peaked in Italy. The last few days have shown a change. The lockdown is not sustainable, as will become obvious soon. It's not necessary: Sweden isn't following it, yet its death rates are not very different to Denmark's, next door.
The problem with the eradication strategy governments seem to be following is that there will be outbreaks of coronavirus again and again (that is, if you believe that less than 1% of the population is positive), necessitating further lockdowns.
The truth is more like what the Oxford study suggests. For the current government strategies to be shown up as worthless, we don't have to believe the upper range of 50% having been infected. 10% is sufficient to make the lockdown a huge error.
