Well, yes and no. I think what you mean is they are there and do not appear to show a requirement for breathing intervention. We don't necessarily know the underlying symtoms causing them to be hospitalised are not linked to Omicron.
What you're interpreting with the data without evidence is that Omicron is not severe, which is only true regarding ventilation that we know of.
If 90% of the Omicron cases are being admitted to hospital because of blood clots, or heart or brain issues, well, that would be a problem no? Great, we dont have to worry about ventilation requirements, but we may face other issues, and that's the unknown right now. Obvs i'm not saying that's the case, but my point is, it's too early to know.
Conversely, if 90% of the admissions were because of a broken leg/arm then that would be something. Fingers crossed severity is lower.
But as other statto's have pointed out, if the R rate is so much more infectious, take the UK for example we have around 5 million unvaccinated, that assumes still a large uptick in admissions into hospital at some point.