"Its not as if its a high fatality rate bug like Ebola"
it's about 3 percent, worldwide, from the information I've seen, and influenza is about 1%. By comparison, SARS was around 10% [if the information I was reading is correct]. So, like the Hitchhiker's Guide says, "DON'T PANIC".
Symptoms (viral pneumonia) are apparently more severe than others, but seriously, stay warm, drink some alcohol, take the right medicines [including things like tamiflu which have been reported to be somewhat successful] and avoid infecting others, and everything should just go away in a week or so. "Re-infections" are like colds, apparently, why SOME colds last for days, others drag on for weeks - cyclic mutations being ONE of those reasons.
Bacterial pneumonia is the REAL killer. But a viral pneumonia like this one makes it easier for the bacterial versions to take hold and kill you. That's usually why people die of it. So if you get bad pneumonia, you see a doc and let him prescribe antibiotics as needed.
Basically, do the same thing you ALWAYS do for flu season, when the strain-of-the-year causes severe chest congestion.
Now what they're doing in China, essentially going door to door and rounding people up and apparently sticking them in "corona virus" quarantine camps [I'm being nice by describing it this way], and shutting down ENTIRE TOWNS and thereby ENTIRE INDUSTRIES from this, I'd say they're in PANIC mode. They need to STOP THAT immediately, allow the WHO to get involved, work with the USA [we've got a potential vaccine in the pipeline already], and get this thing DEALT with, rather than playing "totalitarian regime" and rounding people up like cattle [and treating them as such].
Unless... they WANT to screw the world's economy for some reason... like playing a sick/twisted kind of hardball on trade deals!