The more I think about it the more I can’t see the difference between what we have today and your sarcastic example.
The highs get higher but the lows get lower and it all averages out the same in the end.
Fewer people die in wars. Fewer people die in pandemics. The Black Death killed half of Europe.
This purely pessimistic, nihilistic view of the modern world is as widely inaccurate as a purely optimistic one.
Making enough food to prevent starvation is literally a solved problem. We make more than the world needs and the only people starving are in that state because of government conflicts.
That obviously isn't a complete detail of how it works, but what is inaccurate?
Is there any place in the developed world that treats mixing sewage into your water source as a viable strategy of providing municipal water?
Las Vegas is a 100% closed loop system. All grey water is recycled back into Lake Mead fur reuse.
Modern sewage treatment is a modern miracle.