To think a policy of killing off the elderly when they “run out” of societal value during a global pandemic isn’t running up to the line of eugenics is, frankly, kind of absurd.
This is the key point and you are simply wrong, as you confuse eugenics and utilitarism. It is not absurd to think of the covid example as eugenic, but it does not withstand a closer look, because, as you point out yourself, it’s about the economic value, not the genetic value.