No, really. It's great. George Bush is a strategic genius, a farsighted visionary far beyond anything the world has seen before.
Yes, hundreds of thousands of Iraqis have died. Millions have suffered terribly. Over 30,000 allied solders will have significant lifelong disability. Thousands are dead. A trillion dollars has been vaporized. America's shame will live a hundred years. The middle east's problems are even less tractable than they were 10 years ago. Pakistan may yet collapse, becoming an arms dealer for nuclear terrorists (ok, so that would be particularly bad).
All this, thanks to George Bush.
And, yet, this would be much worse. If the fiasco, the horror, of the Iraq war makes America more cautious, less strident, wiser ... then we may avoid war with China. If we avoid war with China, future historians may decide that Bush's fiasco was a good thing for America and for most of the world, excepting, perhaps, Iraq.
Update 7/4/07: James Fallows makes a similar point from a different angle. Brrrr. There are worse fates.