No there are not very many better 1st level spells, and in the 2024 rules prepared spells are not nearly as much of a premium, especially since your high level slots are what is most limited and this is a 1st level spell.
You say it is not half the party, so add together all the Tieflings, all the Red Dragonborn, then all the Sorcerers, Druids, Wizards, Artificers, Rogues (AT) and Fighters (EK) who did prepare Absorb Elements. then add all the Draconic Sorcerers and all the Bear Totem Barbarians. Then add all the people who do have a ring of fire resistance or anyone that picked up or crafted a potion to give them fire resistance because they knew they would be facing a dragon. Then finally add any that might have got it from some other spell they cast ahead of time or in the beginning of combat.
Add all those together. What percentage of the party do you think that is? I said it is about half and in a combat with a Dragon in teir 2 I think that is pretty accurate.
No. You talked about how precious prepared spells are above. Cure Wounds is ONE spell prepared. Mass Healing Word (which I only tacked on at the end) is ONE spell prepared spell.
He has 7 more spells to prepare at 5th level, and this is RAW a high difficulty encounter for a 5th level party of 4.
Now if you are saying you would rather not keep healing to stay ahead of the Dragon that is fine, but it is fundamentally different than saying you can't.
I also can't stress enough that I am talking about 1PC, not a party.