127,000 can turn into tens of millions with a few doublings, and then into hundreds of millions and then billions with not much more. This is showing signs of exponential growth. This is about using that grey matter in your skull that has the capacity to extrapolate from current data into the future.
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And some are saying just the opposite.
Few doublings? 0.001% are infected.. Use that grey matter and do the math...
I've done the math, it's pretty simple. If it isn't stopped or adequately contained in the next few weeks to months then we could be looking at tens or hundreds of millions of people infected. The power of exponential growth is at play here.
It's been 6 weeks and there are already 200k cases. Here are some graphs:
https://www.worldometers.info/coronavirus/
100k cases march 1, 230k cases march 19. It's easy to see how it will keep growing for around 6 months until a proper vaccine is pushed out. If it followed the same rhythm, it'll be 500k cases by April 1, more than 1.1m by April 19, 2.5 May, 5.3 mid May, 12m June, etc.
Obviously with proper quarantines this won't happen but with people like you saying that it's a hoax, the response is likely to be insufficient and things will continue to spread.
Also, more than 9k people have died already and it's just beginning. Imagine if quarantines had not been put into place and there hadn't been emergency treatment. How many tens of thousands do you think would've died? Is that not the proper response you would expect to sudden emergencies? Think about the word emergency -> emergence, to emerge. A big thing that comes out of nowhere and starts infecting hundreds of thousands and causing ripples of panic is not an emergency? 20% of the population in Europe is 65 years old or over. That's the risk population with the highest death rates.
4 out of 100 people infected die from it (compare it with 0.1 for people with a flu). Some experts say that the worst case scenario is that around 73% of the population will be infected in a few years. Others say that the number is overblown and make a "moderate" estimate of around 25% of the world's population. That's 1.9 billion people infected. 77 million dead. That is literally the worst death toll any pandemic has had since the beginning of history.