The comedic incompetence of certain Western diplomats would give the impression that this second Cold War is fake but it isn't. The open diplomatic escape route that is actively being maintained by China for the EU can easily be closed down should the EU do something incredibly foolish. This second Cold War doesn't have to repeat exactly of the first one.
I don't buy it.
I can see your point, but we should ask ourselves, what if this new cold war is just a false narrative, to push an agenda of someone else's?
A multipolar world? Or a new cold war?
We know what the Americans want.
So I would maintain that there is no cold war.