As I said, society has to decide what increase in the death quantity for those over 65 is acceptable.
That’s death quantity, not death rate. As for the 85+ group, life expectancy at that age is about 6 years. That’s how many years of life is denied the 85 year old in the corona ICU.
It’s important to understand that these numbers come from the excess deaths data. Excess deaths are All Causes. I don’t know of a global source of this data. But it’s easy to find for the US, and last year the 65+ group had 20% more deaths than in a typical year. The data for the 85+ group is laid out in charts on the relevant page and it is very clear that that age group was dying last year substantially above the numbers of a typical year and this was true from March to March.
The flu vaccination rate for that age group was the highest in 10 years at 69%. Coincidence?