This guy doesn't exactly present a rosey outlook.
https://twitter.com/DrEricDing/status/1220919589623803905
Note he says nothing about the mortality rate. Which sources state is about 2.8%, and that's without establishing any co-morbidity factors or other demographic information to tell us if this is even any worse than a non pandemic flu strain. Also keep in mind that for perspective, measles has an R0 of anywhere from 12 to 18. SARS was 4.0. OTOH, the 1918 flu pandemic killed millions with an R0 of 1.4 or so, with a mortality rate somewhere around 15%. However, case mortality for some of these diseases was dramatic. While SARS had an 11% overall mortality rate, the rate for those over 65 years old was more than 50%.
So something with a R0 of 3.8 and (as far as we know) 2.8% morbidity with unknown demographic and co-morbidity (if any) isn't super impressive yet. We also don't know what the morbidity rate is for those hospitalized in time. It might be a fraction of a percent with just the basic supportive therapy such as IV fluids, Tylenol, and Oxygen.
I'm willing to bet a hundred bucks it'll be another low-moderate to nothing-burger like SARS, MERS, Swine Flu, and Bird Flu. We're just not seeing the ZOMG levels of panic or secondary evidence of said panic. I suppose China could be engaging in a mass effort to build tent hospitals in view of the media, and digging mass graves outside of it, but I haven't seen any evidence or even rumors of them prepping for mass death just yet.