The amount of serious and critical cases in Italy is insane, not to mention the small percentage of mild cases. Extraploating from other European countries, it would suggest they are underreporting by ~ 30,000 cases or so. But then again, a recent report from their Ministry of Health said their average age of cases is 60 years, and 80 years for deaths. So maybe it just indeed disproportionately targeted a vulnerable population, or, even more likely, a mix of this plus underreporting.