I'm no epidemiologist but from what I've read, in a word, no. Flu has a .01% mortality rate. Bad flu might be closer to .02-.03%. The mortality rate of Covid-19 may in the end be something like .09%.
Here's the problem though. The difference between .03% and .09% is freaking chasm! One reason flu doesn't kill more is we have great health care (in some countries) which can ensure that people who would die with no intervention live with medical services. This virus, being a bit more dangerous than really bad flu will actually cause a magnitude difference of people needing medical services in the millions and so some of the people who would survive will not get adequate treatment (not enough ventilators, etc...) and die. Wuhan's death rate is 5.4% (approx) and that reason is because their health care sxs was overwhelmed. It's a reason that Italy's death rate is so high (along with median age being 7 odd years older than most countries), Italy's hospitals are overrun in the north and they are triaging. People are dying there cause there just isn't enough medical care for them.