No, "flatten the curve" was about preventing swamping the healthcare system, based on what happened in Wuhan and Northern Italy. Problem is, outside of NYC, NJ and a few local hot spots, we flattened the curve too much. Hospitals were emptied, non-critical procedures were cancelled, and people with cancer, heart disease, organ failure, and other medical needs stayed home. Nurses, doctors and other hospital staff were furlough, laid off or fired. "Lockdowns" caused businesses to fail, unemployment skyrocketed, and a red hot economy was snuffed out. We flattened far more than "the curve".
Next time we face a “bug” similar to this one, we won’t be “flattening the curve”.