Several confirmed cases in the school system I work in. Am I in hysterics? No. Am I psyched about the prospect of catching the flu? Not so much.
Anyway, I do think it's pretty serious stuff. Especially since, as others have pointed out, it's a strain we haven't seen before and, with such high rate of transmission, it definitely has the potential to mutate. It is news when the flu sticks around through the summer months and there are major outbreaks in early September. It's certainly not a crisis, and the media is definitely sensationalistic about it, but it qualifies as newsworthy to me.