You are presuming there was an actual shutdown...
I don't like what Australia did, but it worked. Israel did it nisht ahin nisht aher.
Clearly there is something, given that they still don't want forgieners.
What's inherently wrong with nisht ahin nisht aher? Australia closed down for weeks every time there was a case. That wasn't practical in Israel as people weren't willing to be hermetically sealed for years.
Australia lost 1 in 27,899 people.
Israel lost 1 in 1,462 people.
The US lost 1 in 595.
Italy lost 1 in 553 people.
The UK lost 1 in 524 people
Every country has to live with their compromises, but that's not a bad result for Israel.