In no civilized, sane society should the young be made to sacrifice for the old. The burden is on the hypochondriacal elderly to keep themselves safe, if they have concerns or fears of some sidewalk miasma.
Old people die. That's what it means to be old. I say that as someone who's pretty old himself.
The virus does not care about society or anyone’s view of civilized. Why would you think such an approach would reduce premature deaths?