I don't think it's going to be a societal collapse, but it's a critical moment where the Chinese government has been running up on the U.S. and "the free West" economically, and instead of a response (which would have been pretty ineffective anyway, but bought some time), the West is having a 3 year long coughing fit both literally and figuratively. It's truly unfortunate that all parts of society were not organized enough to respond which has cost millions of lives, but it sets the stage for a brighter future without capital steering things with an iron grip. The grip is still quite firm, but there's a sliver of hope somewhere in the depths of it in my view.