No, that's what you want to do. You want the government to play God and take actions that will likely cause millions more to die than if they didn't take any action, based on a superstitious belief that government is all powerful and can solve any problem. It's not a theory, it's the logical conclusion of your thought process. You want more people to die from starvation than would otherwise die to prevent fewer people from dying from covid. Actions have consequences.
Every country acting like Australia and NZ would kill many, many more people than covid ever could. If we stipulate that those countries' actions are actually minimizing covid cases, then they are freeloading by minimizing their risk at the expense of the increased risks that other countries have to take to keep commerce moving to keep them supplied. Economies don't work that way. Infrastructure that is not used and maintained will have long lasting consequences. Food production that is interrupted even for a few months could potentially lead to billions of deaths. But let's save a million or so geezers from dying from covid. Sounds like a fair trade.