@maxdancona,
I agree with your description and analysis of the spread of this infection. However, please recognize that this exponential growth applies to the cumulative total number of infections, and not to the number of active (i.e. infectious) cases present at any time. Eventually nearly everyone will become infected before we reach a point of herd immunity, though that may take a long time. We have already slowed the exponential growth of the infections by the social distancing recently applied ( the resulting growth is still exponential in character., but with a smaller exponent - and longer doubling time).
It appears that most of the governments actions are focused on slowing the rate of infections so that we can avoid over taxing our medical treatment facilities while we progress along the fairly long road to herd immunity
The reported data is subject to a host of indirectly related variables, mostly involving the effectiveness of our ability to detect and report new infections. Our recently expanding testing program will likely create a rise in the fraction of cases detected and reported, some of which appears to already show in reported data for the last few days. In addition, recoveries to this infection (which lasts up to three weeks from infection to resolution) will continue growing and limiting the growth of active cases.
Our collective herd immunity to the disease is likely a lot higher than the reported data suggests precisely by the likely large and growing number of mild, unreported recoveries (and immunities) out there. We've seen reports of an easily collected and processes blood test for the detection of virus antibodies. This will identify all active and recovered cases, and will in a number of weeks give us all a better handle on our current situation.
As others have noted above the introduction new and better treatment modalities (several possibilities out there, though none yet proven) may limit fatalities and the overall effects of the disease.
I've seen conflicting reports about the susceptibility of the virus to mutations. No or few mutations means long term effectiveness of vaccinations (when they become available), but it also implies continued high transmission rates (some viruses mutate their way out of existence or potential to harm us).
Ac an interesting aside, China's reported data suggests it has geographically confined the disease to the original Wuhan area, and has seen only a trickle of new cases over the past ten days with a continuing decline in the number of active cases. Is this true? I'm suspicious. With Active cases down to a very low level they're reporting a death rate (= deaths/closed cases) of 4%- much higher than other countries nearing this stage of containment. Does this suggest the number of cases might be much higher. China still runs the risk of a nucleus of infections reaching other densely populated urban areas and new explosions of the virus as a result.