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I'm not yet worried about this but that's partially because i live in Australia, but there is cause to be concerned. I know the numbers are still very low but at the moment we are looking at 8 confirmed deaths out of 148 confirmed cases, a death rate that is significantly higher than regular flu.

A short passage from Wikipedia addressing some topics that people have been talking about.

"The Spanish flu pandemic was truly global, spreading even to the Arctic and remote Pacific islands. The unusually severe disease killed between 2 and 20% of those infected, as opposed to the more usual flu epidemic mortality rate of 0.1%.[17][21] Another unusual feature of this pandemic was that it mostly killed young adults, with 99% of pandemic influenza deaths occurring in people under 65, and more than half in young adults 20 to 40 years old.[23] This is unusual since influenza is normally most deadly to the very young (under age 2) and the very old (over age 70). The total mortality of the 1918–1919 pandemic is not known, but it is estimated that 2.5% to 5% of the world's population was killed. As many as 25 million may have been killed in the first 25 weeks; in contrast, HIV/AIDS has killed 25 million in its first 25 years."