Ok, let say you are right. Why then excess deaths have been at its heighest during the 2021 fall in a country with low vaccination such as Romania while covid restrictions were less stringent than during the lockdown in spring 2020? (Just as a reminder, this wave was fuelled by the delta variant - known as being the most lethal one - especially in communities with low vaccination). Or why Melbourne who had the longest lockdown during the pandemic doesn't have any excess deaths? If lockdown was the only factor of possible excess deaths Australia - that was mostly covid free up to this fall should have a large excess death. It's not the case.
Btw I am not denying that the excess deaths are only covid deaths. A lot of them have also been caused by the pressure on hospitals when they were full of patients and people couldn't have access to standard healthcare. And we will probably still pay these next years with cancers that couldn't be detected early enough because hospitals couldn't function properly.
In many parts of the world, official death tolls undercount the total number of fatalities
www.economist.com