This is what I'm amazed that nobody seems to get - if the population of people infected by Delta is 80% unvaccinated (I'm making that up for the sake of an exam

This is what I'm amazed that nobody seems to get - if the population of people infected by Delta is 80% unvaccinated (I'm making that up for the sake of an example), and the population of people infected by Omicron is only 20% unvaccinated because it's so much better at breaking through vaccination, then of course Omicron's going to have a lower hospitalization rate (unless it's vastly more severe, which it clearly is not). That's offset by the fact that it's infecting a much larger number of people because it can infect vaccinated folks much more effectively.