That is just for the city of Wuhan. It is located in the province of Hubei, which has a population of 57 million. So for the province as a whole, 2231 deaths/day are expected under normal conditions.
I have no idea of Chinese funeral practices, but I can tell you that my little rural Oregon town of 30,000 has one cremation facility. Business is so slow that they also use it for dogs and cats that the local vets send them.
It is not hard to imagine a situation where authorities would require cremation of virus victims as a sanitation measure, but that even a relatively low number of excess deaths would overwhelm capacity.
I do not see a reason to think the world is ending.
Of course the world is ending. Everything "ends."
In 7.5 billion the "world" will end by absorption into the sun.