> There's no objective measure of severity
While it varies with health care rationing, think CFR is still a useful measure of disease severity and allows us to situate COVID vs. the flu. Knowing the real CFR depends right now on how we calculate the denominator. Burry had analysis that 4% of the undiagnosed asymptomatic Danish population had COVID-19 per blood donation data, which suggests the CFR is 80x less severe than official figures in Denmark.
Anecdotally the disease entered countries weeks, arguably months before any cases were officially announced, making it likely that the denominator is an order of magnitude greater than official stats, and thus CFR an order of mag less severe.