Yep. It's going to infect everyone repeatedly. It doesn't turn into the common cold, we turn it into a common cold by adapting to it. Adaptive immune system is called that for a reason.
Those charts illustrate why I said long ago it's an ever rising tide rather than "waves".
Early on Laurie Garret thought it would take 3 years to make the first pass through the population whereas Amy Rosenfeld thought 5 years.