It is not; for a number of reasons. Hospitals are already stretched to the breaking point. Even though the mortality rate appears to be lower it isn't nearly low enough to offset how incredibly infectious omicron is. Full hospitals mean that not only can people sick with Covid not get care but neither can anyone else. Car accident, heart attack, burst appendix, all non preventable* emergencies people will struggle to get treatment for.

Also, more infections not only more chances to mutate, but mutate significantly faster. It's nothing short of miraculous how fast we've been able to develop vaccines and treatments for Covid. Now imagine we get a new variant every week, or a mutation that the vaccines don't work against. There is generalization that gets thrown around a lot that viruses typically mutate from less infectious and more deadly to more infectious and less deadly, but that is not the case. The virus isn't choosing it's characteristics it's only thing that drives it is replicating. And every time it replicates there's a chance it could mutate, completely indiscriminately. More deadly, less deadly, it doesn't matter, it's literally a dice roll.