> So why all the panicking, testing and isolating?
Panicking? What panicking?
Testing? To see if you've got it.
Isolating? To reduce the rate of transmission. Remember the R number? If the R number is above 1, the virus will eventually go through the entire population, which is fine (for most people, with this mild a virus). If the R number is way above 1, the speed at which the virus goes through the entire population is much greater, meaning that at any one time a bigger number of people is infected. And then a small percentage of that big number is still a big number, big enough to overwhelm some parts of the system. Which is why you are seeing various health authorities declaring "critical incidents":
https://www.theguardian.com/society/2022/jan/06/nhs-trusts-england-critical-incidents-covid-pressures-omicron
Remember the original plan to tackle Covid, back in March 2020 - flattening the curve? Which we quickly pulled back from because so many people would die. That's what we're going for now, with the aid of vaccines, a milder variant and the fact that a lot of the people that would have been killed have already been killed.