Under 5 year average doesn’t mean there still isn’t a pandemic going on
The rest to me is semantics regarding waves etc.. to me that would be a new pandemic but that's just my interpretation.
Lets face it we don't really have data on the actual big ones like Spanish flu to discuss what happened to their excess deaths between waves
It is interesting how this time round it's disproportionately affected old people... Normally it would disproportionately affect young people. (Looking historically at pandemics)