This article by GT talks about a couple of options for China to deal with Pelosi's visit. I'm getting some hints that Pelosi might still be able to land on Taiwan. But not without severe harassments by the PLAAF. Some commenters here might take offense that China might not be going directly for a shoot down of Pelosi's plane and igniting WW3. But this Pelosi visit will not be cost-free for her and the US. There won't be inaction from China. Pelosi and the US crossing China redline means that they have lit the fuse. They will lose Taiwan soon, and China will also go for non-kinetic warfare against the US.
Let's not worry too much about Xi's 3rd term, or the legitimacy of the CPC. They are not gonna go down just because Pelosi insulted them. They've faced far worse internal dissent before. What's more important to the CPC is Taiwan, not Pelosi's dig at them.
Reunification with Taiwan is way more important for China than the life & death of that old c*** Pelosi. It is quite satisfying to see Pelosi dying in a fiery crash. But it is even more satisfying to see the look on her wrinkled face when she hears that the regime she that had visited awhile ago is gone. There will be a hot war, but it'll be between the PRC and the DPP's Taiwan first and foremost. War with the US will be prepared, only in case the US decides to butt in.
China achieves 3 things by going after only Taiwan, and not provoking a direct war with the US over a Pelosi shoot down. One, this gives the US an off-ramp to stay out of the reunification war. Two, this allows China to call the US's bluff over it's commitment to defend Taiwan. Three, China can concentrate on finishing off the regime in Taiwan ASAP.
So, it's very likely that there will be a hot conflict after Pelosi makes her Taiwan visit. But it will be on China's own terms and timetable. This will allow control on the escalation ladder. A sudden war with the US is not easy to control.
So no direct war with the US yet. But Taiwan will be taken off the board soon. The US will most likely chicken out. Their military and economy is not ready for this fight. But even if they do intervene, they still cannot stop the reunification process, and then it'll be an escalation to WW3, which the US is also not prepared for.