Interesting stats on hospitalizations:
There are about 920,000 hospital beds in the US. On an average day, about 2/3 of those are in use, even before COVID.
In the early 1970s, there were about 1.5 million hospital beds in the US (in spite of the fact that there were 130 million fewer people), and about 1.2 million of them were in use on a given day.
So, in spite of the fact that the population has increased by about 62%, hospitalizations have declined by 50% (on a per capita basis people are more than 3 times less likely to be hospitalized than in the 1970s).
If the community infection rate with Omicron is 5%, then about 30,600 of "COVID" hospitalizations would just be people who would otherwise be hospitalized that happen to be COVID positive (currently, 68,886 COVID inpatient beds are occupied, so 44% of "COVID" hospitalizations are just people who would likely be hospitalized anyhow that happen to be COVID positive).