re: **CORRECTION** 40% of people being admitted to UK hospitals for COVID-19 are vaccinated

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You know either number if remotely true would be terrible ineffective, right?

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If hospitalization were the only the thing being measured then yes. However you also have to consider mortality, severity of illness, level of care required (i.e. floor vs ICU), length of stay, etc. There are multiple things where vaccinated vs unvaccinated come into play.