Is overreaction even possible for a public health crisis?

I see the word "overreaction" used frequently in some social media posts in connection with the Coronavirus pandemic.
I'm not sure what "overreaction" means in this context.
If deaths and illnesses are kept to a (relative) minimum by the actions we're taking now, are we overreacting?
If our health care systems can adequately handle the cases we ask them to handle, are we overreacting?
If we can return to normalcy sooner instead of later — and that would likely be a more tragic, more socially destructive "later" — are we overreacting?
What, exactly, is the proper level of reaction — you know, not too much, not too little — to a global health emergency? Do you know? Does anyone know?
How many fatalities are acceptable for you?
If you don't get sick, is that all that concerns you?
At the end of this calamity, we'll look at the data, the human toll, the way the world's people and governments and health care organizations and economies handled it. And we'll come to our conclusions.
When that day comes, do you really want to hear anyone say, "Sure, we could have done more to save lives but that would have been an overreaction" or words to that effect?
Didn't think so.
What some see as "overreaction" is likely the only choice we have.