IFR was actually between 0.1% and 0.3% depending on what source you use. 1% was an early assumption back when there were only dozens of cases, but of course, back then only the most severe cases were being identified.
The best way to compute IFR is via serosurveys because those can pick up people who were infected but didn't get sick because their immune system fought it off without symptoms even developing.
Here's a serosurvey meta-study from 2022. It's more recent than when I last looked at this and computes an even lower value.
"The median IFR was 0.0003% at 0-19 years, 0.003% at 20-29 years, 0.011% at 30-39 years, 0.035% at 40-49 years, 0.129% at 50-59 years, and 0.501% at 60-69 years."
It does vary heavily by country and age so it's not a very meaningful value, in some ways. It tells you more about the general state of health and healthcare in a place than the virus itself.
It's hard to compare this to the IFR of flu because flu has never had this scale of surveillance applied.
The COVID death rate and what it compares to is a very different and tricky topic. It's probably not worth getting into here. The thread is about COVID testing.
