there are several variables to compare when looking at viral outbreaks.

Mortality is one. And the specific death rates of different viruses vary wildly. The 1918 flu was deadlier and that should be taken into consideration.

Another is the rate of transmission or R0. Right now the R0 of corona is holding steady at 2 times that of a typical influenza. But here is the troubling bit. It appears to have the same R0 Value as the 1918 flu.

So take those two variables together. You will have a large pool of infected (morbidity) and a lower pool of deaths (mortality). Based on lessons from the past (which are appropriate) steps are being taken to lower the mortality rate by decreasing the # of carriers and slowing rates of transmission.

The other thing to keep in mind is that seasonal flu moves through a population that has both vaccines and organic immunities based on previous exposure. This "novel" virus is moving through a global population with zero immumity. Additionally, this viruses appears to be far hardier than a typical seasonal flu. living on surfaces outside of a host for 2-3 times as long.