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Peaks getting lower, troughs getting higher, which is what you expect for a system oscillating down to an endemic equilibrium. I think the distinction between "waning immunity" and "evolving immune escape" is relevant to folks understanding pathogen transmission mechanisms, but ultimately nets out to pretty much the same thing from an epidemiological perspective.

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Yes, I think so too, at least while we're in this particular omicron-shaped tunnel that we've been in for almost a year now.

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