True, if you only consider the 'body count'.
However, economic disruption, the potential for supply chains to break down is enormous, considering the survival rate for the flu is so high as to be not considered by most to be a severe threat.
When the odds of living through a disease become 50/50, fear of contracting it will be more of a controlling issue than the disease.
In that instance, shortages or loss of vital services may cause more deaths and damage than the disease.
Outside of a rare mutation, the most menacing influenza, the one that fits in this class, is H5N1, which for unknown reasons has not yet become easily H2H transmissible. Very atypically, since it was discovered it has maintained a 60% mortality rate. It is the nuclear weapon of epidemics.
The only epidemic that has come close to that in any mammal was the myxomatosis plague in Australian rabbits in the 1950s.