Russia had some reputation of being a large and powerful army, but as soon as they attacked Ukraine it showed the world it actually had shit. It basically lost its credibility of being a world power because their arsenal is old fashioned and they were just throwing in bodies.
I feel the US is going through the same. Everyone saw them as an undefeatable nation, but this little stint in Iran had their stockpiles dropping faster than expected and it's not going as they expected. Hegseth and Trump contradict each other and besides squandering their soft power over the past years, they are also showing that their military might has limits.
They are both still to be reckoned with and they are capable of doing great harm to innocent bystanders, but my view has changed a bit.