I remember looking into research on Network Centric Warfare when I was doing my MS thesis around 2000. I had a ton of ideas for cheap counters to traditional weapons systems, but the funders only wanted multi-billion-dollar solutions. They said our next wars would be asymmetric, and that they wanted expensive solutions so our enemies could not copy them.
I said we would eventually fight a symmetric war against an enemy that could out produce our industry and who designed cheaper systems.
I also said (prophetically) that the next symmetric war would be won by whoever designed and modified the best autonomous systems on the front lines and who produced the most of them. This seems to be partly happening in Ukraine.
The assumption that the US will end up in direct conflict with China is, in my opinion, contradicted by the the Chinese tendency to stay away from wars and focus on economics. They have had only minor border skirmishes and small roles in counterinsurgency in their past 50 years of existence.
I also think that we are too far in for economic warfare to be effective. Any attempt to cut off China from the US will harm the US more than China. The Hoover Institute is partially responsible for the position we are in now, as many of the US politicians that acted to encourage manufacturing abroad were fellows. They are big on free markets, and the hands of the free market determined that low cost manufacturing abroad is of greater importance than US unipolarity.
I think another major point that the article ignores is that the transition towards a market economy from a planned economy was disastrous for the USSR. The Era of Stagnation came right after market reforms, and all of the ex-Soviet countries economies tanked after the fall of the USSR
Only thing I'd quibble is the free market part -- US wants free market when US firms dominate (and will make a moral claim about it), but when US firms are losing (to Huawei on phones and routers; Tiktok on social media; BYD on electric cars), the US pivots to fiercely protectionist. Free market is no longer a "human right", "moral obligation", "essential for democracy and freedom" etc.
Actual title of the document is "Moneyball Military: An Affordable, Achievable, and Capable Alternative to Deter China".