I'm going to get a bit boring here, but I can't help it I'm a biologist.
One of the reasons that new strains of flu are taken so seriously is the possibility that the new strain will be capable of causing something called a 'cytokine storm' an OTT immune response, this was seen in the 1918 flu which is why it killed so many of the young and fit. Flu strains like can be most harmful to the young and fit (and ecconomically most productive) and not to the 'weakest' in the general sense.
New flu strain are also concerning as flu viruses have two properties that make them predisposed to pandemics, they are easily transmissible and they mutate rapidly. Other viruses such as Ebola whilst horrendous tend to be more localised and have less potential to go global.
Sooner or later ( I hope the later) there will be a flu pandemic of the sort that happened in 1918, of course we now live in a different world we have better treatment and tracking capability but we also live in a more connected world. It is not scaremungering to treat this with seriousness.
The catch 22 with a flu pandemic is that by the time you would have enough evidence to know that it would be 'the big one' it would be too late to do anything about it.
Even though the probability of any particular strain becoming a serious pandemic is low the potential harm if it does is very high, which is why sensible precautions are so important.
All that said there is no doubt that the media and polititans just don't get the subtles involved. There has been much misinformation, both inflating and denial of the actual risk. It is also sickening how some have profiteered from the situation.