I think it is a realistic scenario our "just in time" sciety may get very serious disrupted. Failing government communications, lack of leadership increase risks for mass panic. 

Some countries may only see regional crises-will have the means to compensate from less effected regions. Other countries could collapse-depending on foreign aid to get over the crisis.

Panic should be limited by in-time good communications, planning...to keep essentials (food/water, basic healthcare, security, energy) going. Since governments go for "denialism"; acting to little to late we may expect lots of crises.

Here in NL national cases now are (still slowly) going up. Limited travel, schools closed, a sort of limited lockdown and lots of boosters-with a majority of the population demanding government does MORE may have slowed down the crisis....

I think vaccinations/boosters limit the crisis-if not infection then severe disease and with that further increasing pressure on healthcare and society. 

Looking at South Africa it may be a short crisis-but SA has a young population in summer...Europe/North America missing both...

Are you ready?

Omicron hospitalization risk around one third of Delta, UK analysis shows

https://www.yahoo.com/news/hospitalisation-risk-omicron-around-one-143102507.html