I agree with all your conclusions because it's clear that Trump's policies are failing all over the world, and he doesn't seem likely to achieve anything except what will exacerbate the crisis for the United States. However, I can see what's happening now from a slightly different perspective:

The United States no longer has any allies, having lost confidence due to Trump's expansionist ambitions, including its classic friends in Europe. Almost all of its friends remain are the Gulf Arab princes, who aren't shy about throwing money around, even if it doesn't directly benefit them. Trump would be happy to achieve any simple achievement with these pimps, even if it comes in the form of promises. A $400 million luxury jet from Qatar and $100 billion in investment promises from Saudi Arabia seem reassuring to the American public and portray Trump as achieving successes, but in the end, no one asks much.

On the other hand, the Gulf Arab princes still need Mama America to provide them with protection against their enemies, even if they know it can no longer even defend itself. America represents the neighborhood bully who bullies others, then entices the wealthy to pay him to protect them when they wrong someone. These princes have no value without an external force to protect their authority, otherwise they wouldn't last a single day in power. Here I mean the Gulf Cooperation Council countries. So they boast about supporting Uncle Sam to tell the world and their opponents at home as well: Look who our friend is and don't even think about undermining our authority. Trump benefits from this role and doesn't hesitate to tell the public that he wants something in return.