We had different strains of flu before the Spanish flu. We have not built up immunity to that virus, and it still has major outbreaks as recently as the 2009 swine flu pandemic. We do not treat that particular strain as a mild annoyance.
While true that some strains are still very alarming (and for damn good reason X_X), the general population of today do tend to treat the Cold and Flu as mild annoyances (they don't when they first showed up, but eventually people do tend to get used to unpleasant things). You only have to look at how often people still come to work, or go to school with either of them, or how people react to knowing if someone has either of them. Though that could be due to social peer pressure as well, not to mention employers attitudes to their workers being sick (the bastards).
So unless COVID becomes like the Spanish Flu in lethality (which IS still possible), it will (I feel) in the next few years be viewed much the same as Cold's and Flu's (Go get your retinue immunization jab today!). Honestly, it's already happening with it's less media coverage and Governments back pedaling on restrictions, both of which play crazy stupid levels of influence on the general public point of view.