Mortality rate is far below 1% when you exclude people over the age of 70, possibly as low as 0.1% if you consider how many asymptomatic people there supposedly are out there who never get tested.
As cases ramp up, herd immunity will start to set in so that transmission rates will go down.
After a relatively short period of time, most people will have had it, so transmission will approach zero.
The world will continue as normal and this thing will be nothing but a memory.