The media is a business like any other. Most news outlets gain/retain viewers by sensationalizing. I can tell a pretty damn good story if I embellish, but I would bore most people to tears if I went with the facts.
The "fear" vs. "reality" chart is surprising (and perhaps sensationalism itself), because I haven't actually read much that claims a high % of younger people are at serious risk from coronavirus complications (besides the usual "25 YEAR OLD SOMEWHERE DIES OF COVID" popping up in an ad). I have a friend that works in a hospital, and there was one person in their 30s that died of it here that he knows of, but that person did have multiple pre-existing conditions (which I have read). I don't even know that many people my age in person that are concerned about the possibility of fatality, mostly just concerned about the spread.
I myself am concerned about the spread (mostly for the sake of old and vulnerable people), because history has taught us that humans learn over time, and it's only been a few months. Such little time has passed that there are conflicting accounts from doctors and scientists as to what long-term effects the virus can have. It's much easier for me to say "it's just like the flu and the cold" than to admit "I don't fucking know."
As for shutting down the American economy, I don't think we would have had to worry about it if we followed suit with the countries that immediately contained the issue and had a low rate of spread afterward. Having a discrepancy between America's rate of infection and other countries is more ammunition for fear-mongering, so our inaction basically fucked us, and surprise surprise, now people are clearly panicking.
"The media should have more strongly questioned faulty academic models, unrealistically high fatality rates, lockdown efficacy, shifting goal posts, and the suppression of dissenting views by big tech. Had it done so, our public policy disaster may have been averted, or at least curtailed, potentially saving even more lives in the long run."
This statement is pretentious pontification coming from a journalist, lol...