Sadly, the war colleges in the US have all been aware that this kind of shift was coming, too. There are many examples from history of an incumbent superpower being dethroned because it failed to modernize and was overtaken by others with better technology (eg the Ottoman Empire).

Our current US administration is woefully incompetent.

It is extremely competent at its true goals. How much wave action have they gotten out of the Strait of Hormuz?