On average COVID 19 kills people just a few years below their natural life expectancy, at about age 80. They are basically on the way out. Their quality of life and productivity is not the same as a 20 year-old, and the potential years of life lost for them is minimal. Most of them have lived full lives during the decadent and destructive peak of human civilization - I expect that the life-expectancy and quality of life of children today will be much worse, as the world becomes unstable due to climate change, overpopulation and resource shortages.
Investing billions in keeping these lucky pensioners alive for a couple more years is unfair because it is the younger generations who pay for it, with damage to their future careers at crucial moments of development, with damage to their mental health, and by loading them with enormous national debts.
COVID 19 has shown that we can spend (borrow) huge amounts of money as nations. That money should be spent on the future public good, investing in national preparations for the hell on earth that humanity is creating with climate change and biodiversity collapse. It should not be wasted on prolonging the lives of those who, on average, are soon to die anyway. It's another example of older generations stealing from and ruining the lives of younger generations who cannot defend themselves.
The death of an 80 year-old is not worth ruining the future livelihood of a 20 year-old. The death of a 40 year-old through suicide is more serious than the deaths of several 80 year-olds. These other, more serious aspects of human waste and suffering are unthinkingly ignored by society, and actively exacerbated by the politicized first-world response to the pandemic.