1) Try to save as many lives as possible by enforcing protections and encouraging people to follow safety protocols. However, doing this would necessarily tank the economy.
Trump did not do this. He openly admitted that
he downplayed the virus to "avoid creating a panic." Other industrialized countries that did not try to downplay COVID had both fewer deaths and less severe economic impact than the US.
2) Try to keep the economy open and not worry about Covid Cases, a la Ron Desantis. However, if he did this, the Democrats would say he is responsible for the lack of response to Covid.
This is what Trump attempted to do. However, when people saw that
3,000 10,000 Americans a week were dying, Trump's feeble efforts to tell them
everything is fine, just go about your normal lives didn't work. So finally, he was forced to acknowledge reality.
It's also important to note that while you say Democrats will blame Trump (and DeSantis) for the deaths, Republican voters don't care! The number of deaths "with COVID" is simply not something that Republican voters are concerned about, at all. So that's not a loss, it's a win: your base will enthusiastically cheer your indifference to COVID and won't care about the number of deaths. (The economy will tank, but as we can see, Republican voters like yourself give Trump a complete pass on the 2020 economy.
It's not his fault!)
So I'd say you have it exactly backwards:
1) If Trump treats COVID like a serious danger, he saves hundreds of thousands of lives and reduces the severity of the economic impact (as we saw in most other industrialized countries) - this is a win
2) If Trump downplays and minimizes COVID, his base cheers him on while not caring about the deaths and giving him a total pass on the economic devastation - this is a win
For Trump, COVID wasn't lose-lose, it was win-win.
edit: corrected the number of COVID deaths per week in the early pandemic