I agree with your analysis. However my point is that the relative outperformance or largest devaluation only happens once a war has concluded and all parties are aligned on who gets to define and how to define the new monetary standard for the next ~30 years.

Speculating that the BRICS alliance is going to eat into the dollar's prominence as early as next year is very far-fetched IMO. Especially when the currency doesn't even exist as of today. Not to mention the fact the vast majority of worldwide debt remains denominated in dollars, thereby retaining demand for it.