You may be right. However, I keep meaning to start a thread about my "China Logic" but haven't gotten to it yet. Here's a short version I posted elsewhere the other day, which convinces me that we need to come close to what they did.
Look at it this way. China is generally recognized as not really caring that much about its people, generally speaking, as economic production is everything to the Communist government. Guessing many would agree with that, no? Well, if that's the case and this were no worse than the flu or even just a bit worse, does anyone think China would have shut the country down for 2 months, hugely impacting their economic production? No way.
This tells me that they knew it was far worse than the flu and decided that the shutdown and other aggressive measures were required to prevent an economic production impact far worse than the shutdown. It's also why I don't believe their numbers of 80K confirmed cases and 3100 deaths - many reports, especially out of Wuhan, are that they stopped counting the dead.
It's also hard to believe that they only had maybe 60K infections in Wuhan, a city of 10MM (that's <0.1% and we saw 17% on the Diamond Princess with little control over transmission and Wuhan would've had little control at least early on. It's possible they saw hundreds of thousands of cases and 10,000+ deaths and we'd never know it. Just look at Italy. They have 1/20th the population of China and have now surpassed the number of deaths that China has claimed (3405 vs. 3248) in about half the cases.
If anyone would have been tempted to just "let it go" and would've been able to "get away with it" at least internally, it would've been China. But they went all out to stop this. IMO, it's because they knew it could be far worse, i.e., I think they developed their own "Imperial College" numbers and said that would be too much for even them to tolerate (5-10MM dead and 10X that in ICUs) - from an economic production perspective, plus they had the "misfortune" of being first and knew they'd be a pariah if it not only started there, but they did nothing about it.