All these quarantine, and other prophylactic measures like masks are only meant to lower the peak and stretch out the curve, thereby lessening the load on medical resources. Which will only lower the deaths by how many people are saved by the medical care. Because meantime we are only biding our time until we have all been exposed.
Why not try to get R0 below 1? It doesn't seem impossible at least in some countries. (See e.g., https://www.imperial.ac.uk/mrc-global-infectious-disease-analysis/covid-19/.) And "The Hammer and the Dance" as linked previously.
Also, even slowing the spread of disease actually decreases the final number infected, not just spreads it out. Because the point at which recovery overtakes spread happens at a small proportion of the population infected. (You need less immunity to get herd immunity if R0 is smaller.)
I think it's pretty clear we should just be doing pretty much everything we can to reduce transmission now, and very much hoping that gets us below 1. It's still good even if not.

