I also think that its being underplayed, which is a dangerous game. Of course, we don't want panic, but the media in the UK keep banging on about symptoms invariably being mild, which means that there is little fear in the young, fit and healthy. Even if it was a standard strain of flu, you'd want to avoid it.
The frustrating thing is that we know what's coming, but are reacting slowly. Reacting slowly in reducing social contact, in getting more ventilators, in getting in touch with ex-NHS staff, etc, etc.
Italy is not a third world country with inadequate hygiene and medical services. So why is it happening there? And not far behind Spain?