I suspect it will drag on and on. No vaccine or drug treatment seems to be more than a blue-sky hope, and there is no evidence that getting the virus gives you lasting immunity. Instead, any episode of Covid will damage the body to a greater or lesser extent and make you less able to resist the next exposure. With no alternative strategy to isolation, societies will get more and more atomized; the only places not to experience drastic social transformation will be those like New Zealand and Vietnam that have definitively beaten it and can pull up the drawbridge.