MAGA as a statement recognises a change. While the name 'America' last century meant an overwhelming nation, it doesn't have to mean that. There was the 'United States of Brazil' and 'Republic of Ireland' which mean average nations. In effect, the US was defeated by North Vietnam and Afghanistan and the world now presumes that Ukraine won't win.  'USA' can now represent a large country which is being matched by China and may even be weaker in hyper missiles and lasers. If the US blinks in Ukraine, it could blink in South China Sea if it's not certain of winning.  Once the self-image of world dominance is gone then the urge to be supreme is weakened. And 'America' could then mean that collection of nations, which changes the rest of the world's dynamics.