That is what I meant by on/off stages.
Not necessarily. I don't mean a total lockdown for 2 years, that just won't happen, but I think something like Singapore/Korea is gonna happen. No mass gatherings (so RIP football), social distancing all the time, but people will go to work (while being careful), and kids will go to school (and being tested heavily). With partial temp lockdowns when the situations worsens.
It is clear that the virus will stay with us, so it is either herd immunity (with tens of millions of deaths, if we extrapolate Imperial college numbers to the entire world, it is 90m deaths), or we need to chill down for 2 years or so until the entire world gets vaccinated.