I don't think the German case fatality rate is accurate but it might not be that wrong either.
When an "abnormal" amount of people is passing very quickly in one area, that can't go unnoticed by other tertiary involved places and parties like morgues, funeral homes, crematories etc. They would be overwhelmed, too and that would be reported on, like it sadly now is in Spain.
Our government keeps on stressing though that we are at the beginning still. Since the ICUs are not overrun yet, people thankfully can be kept alive for a long time, too. Edit: So there might be a long lag still between current numbers and later deaths. That can of course change.
Edit: Regarding ICU beds: Yes, we have a lot of them (around 28.000) but that doesn't help that much because we dont have enough of the highly specialized health care workers to work on these beds and machines. That has been a problem even before Corona.