Perhaps. Perhaps not.
The reality is that the US and west never stopped waging the Cold War. We broke the understanding with Russia and pushed NATO eastward, even incorporating parts of the former USSR into NATO.
Then we tore up the ABM treaty and put anti-missile bases in Eastern Europe claiming we were doing that because of Iran. The Russians didn't find that laughable claim one bit funny and understood that the west was seeking to negate their nuclear deterrence.
NATO has been used offensively both inside and outside of Europe and shows that it has nothing to do with "defense".
We portrayed a rag-tag group of Muslim fundamentalists as some sort of existential threat to the US and west, but now the US gov't has made a "pivot" and is portraying China as militarily aggressive because they are squabbling over some worthless islets with their neighbors. It's clear that China is the focus of a new Cold War.
It's clear the US is in search of a "new enemy" because that's what keeps Americans distracted from how much we waste on our military and our continuing economic decline.
"Were the Soviet Union to sink tomorrow under the waters of the ocean, the American military-industrial establishment would have to go on, substantially unchanged, until some other adversary could be invented. Anything else would be an unacceptable shock to the American economy." -- Ambassador to the USSR and US State Dept. strategist George F. Kennan.