Is anyone else feeling like Globohomo is dying but aren't too excited about it?
I wouldn't say Globohomo, but the American hegemony is being challenged for the first time since the beginning of the Cold War, and the current Biden government doesn't know how to react to all of this.
After what the US threatened India (a neutral nation) of sanctions due to them refusing to comply with America's demands, a few nations were able to see how toxic politics have turned.
We're seeing Russia being cancelled in the same way someone would over some dumb tweet from 2011. Imagine if other governments like, Brazil's Bolsonaro for example fucks up in the Amazon one day and they get sanctioned to the ground.
They'll defect to the other side, China will grow, economical blocks will be made, other nations will make their own alternatives (see RuPay, AliPay, and others) because they realized that Uncle Sam isn't the same happy freedom loving burger munching guy from the 90s and 2000s. No.
Also, neutrality will die. The Internet will become more and more biased, Russia already has their own Facebook (VKontakte), China already has their own Twitter (Weibo). It seems that China's firewall saved their asses, you can't get sanctioned if you produce what you use instead of using foreign products and services. It's just a matter of time until they make Internet sites for Europeans for a few dumb European Union laws.
They also want to keep their hegemony even if that means losing allies, or spreading blatant propaganda worldwide. (Western Media is just as biased as RT or CGTN at this point)
Edit TL;DR: We may see a multipolar world in the future, but with multiple players instead of just 2 like in the last time.