Not sure I follow your logic and where age related stats enter in. I’m speaking of raw numbers and there has been a significant increase in mix change (vaccinated/unvaccinated). What determines hospitalization is severity of the symptoms and a patient’s risk factors. If your pulse ox is 85, you’re obese, and having breathing problems, You’re going to be treated as an inpatient whether you are vaccinated or not.It's not less true. It's that most people are vaccinated now.
The far majority of people in the age groups that would be hospitalized are vaccinated.
If your population is 1 million adults over 65 and 90% are vaccinated, If your Covid census in that age group is 50% vaccinated and 50% unvaccinated - That represents a 900% increase in your risk of being hospitalized if you are unvaccinated.
Lots of other personal factors here as well, but it is not becoming less true that the vaccine provides significant protection against sever disease and death.
That said, people have made their choice now. These rules are over the top.