You have to look at this in a greater context because Ukraine is only a small piece of the puzzle.

Geopolitical damage to US has been enormous already. US sanctions on Russia resulted in a whole new economic system developing outside the dollar. Russia now openly trades with countries like Cuba, Iran, and DPRK because they no longer worry about secondary sanctions. US has spent decades trying to isolate these countries and freeze them out of the global economy. US is being openly defied by majority of the world now, and has been unable to strong arm countries outside the west into following its sanctions on Russia. This has exposed the limits of US power globally. The BRICS is growing rapidly, and it's now a bigger economic bloc than the G7. Meanwhile, US and its allies are going into economic recession. The freezing of Russian assets by the west has shown countries that dollar based financial system is not safe. We're now even seeing US allies such as the Saudis and India turn away from US.

Militarily, US has been exposed as the emperor with no clothes. All the NATO wonder weapons are burning in Ukraine, and everyone can now see that there is nothing special about western technology or tactics.

Until the war started, it was taken as a given by majority of the world that US was an unchallenged hegemon and that nobody could stand up to it. If the war was avoided, then this myth could've been perpetuated for years to come. The war heralds the end of the unipolar moment that arose when USSR dissolved, and that's what makes it such a monumental blunder. The processes that have been started as a result of the war cannot be reversed.