The main issue, as I mentioned, is the assumption that 'community immunity' is a) a homogenous state b) the 'end' of a pandemic and c) possible to reach. The other errors stem largely from these mistakes
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In a nutshell, in a 2-class system where total supression is (because of RL, mind you) not possible. There is a threshold for time t until the diminishing returns of having a miracle vaccine that can be applied in a single day to the entire population with effectivity 100%.
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Because over time other (even imperfect) isolation strategies will minimize the death burden for slowing down through transition to endemicity. So waiting is a good strategy, but it has huge limits. And the bigger problem is that over an uncertain horizon, there is no coming back
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