Ugh. IFR does not work like you think it does.Covid is a new virus that's been around for 2 years basically. It will kill more than the flu if it has the same IFR (or even lower IFR) because there is no built-in population immunity to it.
IFR is dependent on a wide range of factors and circumstances, of which immunity is one, and is thus dependent on place and time. You can take a theoretical IFR for a completely naive population, but the minute people start catching it, IFR decreases because people develop immunity. Eventually, covid IFR will probably stabilise through immunity, fluctuating (like influenza) with the appearance of new variants and strains.
However, of course, it's not as simple as that, because diseases have different infectiousness: If covid has an IFR half of influenza in one place and time, it may still cause more deaths if over twice as many people are catching it. Seems to me covid is very transmissible compared to influenza.
In terms of the covid IFR for a naive population, I might simply note that in the USA 270 people per 100,000 have died thus far, or 0.27% (and over 2000 people a day are dying currently). This despite both prior infections and vaccinations throughout most of 2021, both of which reduce the chance of death to less than 10%, even less than 5%, that of not being immune. It is therefore almost guaranteed that the IFR for the US population when totally naive was considerably more than 0.27%. Considering some other countries' statistics as well (400 / 100,000 deaths and still climbing), I would suggest the range of 0.5-1% was likely. So with everyone theoretically immune and so with 95% protection, a reasonable estimate is IFR 0.025-0.05%. This is potentially lower than influenza. Although of course the influenza IFR also represents that lots of people aren't effectively immunised against influenza - or at least some strains of it doing the rounds that year. And as above, we then have to consider how many people might catch it.