It was real, definitely not a hoax. But fear, maybe greed and definitely stupidity took over and clouded peoples judgements.
It wasn't a hoax, but it wasn't just flu either.
For comparison it looks to be on par with the 1968 Hong Kong flu which was declared a pandemic, but it didn't need the kinda BS measures we are seeing in place now to deal with it. Funnily enough the second peak for that flu was worse than the first in some places. This could still be the case with sars2, but again we don't need retarded measures in place to deal with it.