Yes, this is some real shit; how real we don't know yet. So far, COV-19 is killing about 2-3% of the infected, many orders of magnitude more than most flus.
Spanish Flu may have killed more people from 1918-20 than WW I, and killed about 2-3%. So that would translate to about 250 million killed worldwide if this stays that virulent. Viruses tend to evolve to become less virulent over time, but how how fast this will happen, and how many will die in the meantime, is unknown as yet.
Trump is desperate to claim COV-19 is no big deal, since it's tanking world stock markets, and he needs those stock prices high to get re-elected. So now this is a thing Fox etc. must also say- a lot of folks get paid a lot of money to lie to you on TV, and now this is one of the topics they will be paid to lie to you about.
Also, of course, Trump has massively cut finding for all public health activities each year for three years, and last year fired everyone in charge of pandemic infectious disease response, and also fired everyone working on controlling avian-origin infectious respiratory disease (like say COV-19) in Asia last year.
Since Trump is dumber than a box-full of rocks, and Pence, who is in charge of COV-19 response (rather than say an epidemiologist), is dumber than two/three box-fulls of unusually dumb rocks, and also a Born-Again, we are most likely fucked.
And of course he doesn't believe evolution is real- oops, kind of a central concept in virology!
So there is a whole lot riding, politics-wise (and for Trump, staying-out-of-prison-wise (since getting reelected is his only hope of him and his sons not dying in prison)) on convincing everyone this is no big deal.
Don't panic yet, but think about what you might want to do to stay isolated from other people for a couple weeks. Stock up on non-perishable food if you can.
Probably folks here are more likely to be able to do those things and live than the population generally- it's mostly little kids, very old folks (even older than me, if you can imagine it), and immune-compromised folks who will die.
My advice: Don't pay too much attention anyone talking about this who does not have at least an epidemiology PhD and some public-health work background (this includes me (as a person talking out my ass)- my PhD is in criminology, but at least i worked on public health shit for a couple decades), BUT pay very close attention to those who do have those credentials.
Especially listen to your local city and state public-health department officials, since they don't work for Trump and he can't fire them. And even if they personally don't have to handle your plague-ridden corpse, the folks who work for them do, so they actually care.