I heard that mortality rate estimates range between 0.5% and about 4%, so 8% seems a bit high. However, it varies by age, as you can see here: https://www.worldometers.info/coronavirus/coronavirus-age-sex-demographics/
As you can see from the data at the above link, it's very dangerous to older people, with a mortality rate of above 14% for 80+yr olds.
Keep in mind that depending on the number of people that are asymptomatic (ie don't have symptoms) the real mortality rate may be lower.
I expect widespread disruption for the next approx 12-24 months, while it makes its way around, until a vaccine becomes widely available (or until the vast majority of people have had it).
Everybody gets it
The death rate is about 8% so our population is reduced a bit.
Your guess as to what happens then is as good (or better) then mine