He talks about a 1% CFR, which does not acknowledge the many asymptomatic and mild cases that never get tested.
He acknowledges the economic disruption but fails to credit that to an overreaction by politicians and fearmongering by the media.
Gates advocates for a ten-week national shutdown as if (1) that is economically and socially feasible and (2) as if that would actually accomplish anything - for after suppression efforts are lifted viral infections will continue.
So it is unclear what Gates knows. To me he is talking in the abstract for what he is saying does not fit what we are seeing with COVID.