Good observations. But you did not ask what made America great the first time around. It was the freedom of enterprise. It was the land of endless opportunities. America skyrocketed the progress of civilization. The whole world benefited from it.

With prosperity, people are less motivated to chase more but seek to preserve and enjoy what they already have. That changed America. Its one leg is still in that old concept the other one is in the European style comfort.

To stay at the top and be ahead of China, America needs to return to its roots.

I have a very long essay on that subject: https://virtualagora.us/capitalism-versus-socialism-9ece51b5ff29.