I don't think anyone expects covid deaths to be anything like earlier in the year, simply because we have better treatments and we know far more about it now, ie we ventilated too many early on, and it probably was a cause of death in itself.
However a "second wave" isn't just deaths, it's also about hospitalisations, and when you've got that far (needing hospital) there is a significant risk of both death in a few cases, but just as importantly, serious long term illness caused by the virus.
On top of that hospital beds taken up by covid patients, take out of service wards / beds / nurses / doctors for other treatments.