“Slowing the spread of the virus” simply means staggering the deaths over a longer period, controlling the demand on existing medical services that will likely have to cope with little or no enhancement of their resources.
There is no real plan or intention to avert the deaths of the elderly and chronically ill, in my opinion. There is only the idea to spread the impact over a longer period of time, which will also function to prolong the window of opportunity for exploitation and increase the tolerance of the population to various degrees of repression.