Any life lost is tragic, but as far as deaths of despair brought on by the pandemic, I am guessing that number is nowhere near 280,000 right now.
I think the "is the cure worse than the disease" debate gets more interesting if you factor everything else in... financial hardships, kids struggling to adapt, etc, although I would argue that if we took the let it rip approach and were sitting on 500,000 deaths right now, that would have its own effects.