I pretty much agree with your "westpac" view of PLA development and your short/medium/long term timelines. However I think your concepts are anchored upon Western notions projecting themselves on China rather than China's own notions. Though this may make it more easily understandable by an audience more familiar with Western thinking, it also has inherent bias and inaccuracy.
I would refer to your "westpac" view as "homeland defense" view for China and it would not aim for more than dominating up to the 1st island chain by military means and being able to counter threats from the 2nd island chain before these threats can meaningfully affect the aforementioned. The core Chinese concern is Taiwan, either its recovery by China or prevention of it falling under another country's orbit who can in turn use it to threaten the Chinese mainland, as Japan had done during its colonial era through WW2. The secondary concern are the ECS and SCS islands China considers its territory, again as much for their control by China as prevention of them falling under the control of others who can in turn use them to threaten the Chinese mainland. The parallel but non-territorial-per-se approach applies to the waters within the 1st island chain.
These are valid Chinese concerns as the 1st island chain countries include multiple qualitative peer and potentially near peer militaries, and hosts and potential hosts of large forward US bases with the capability to threaten the Chinese mainland. These forces already include, will soon or can easily include even more, significant expeditionary forces including carriers, amphibious air, naval, and ground assets, as well as strategic bombers, ballistic and cruise missile capable ships and subs.
Due to the quantity, immovable location, and inherent interests of these countries, it is immeasurably more effective, efficient, and realistic even for a much more developed and powerful China in the future, as it has in the past, to seek diplomatic accommodation with them rather than to attempt any sort of military domination beyond within the 1st island chain. A key exception is when 1st island chain countries host third party forces that are even more of a threat to China, but even here it makes sense for China to merely hold the local countries just as at risk as China in any conflict to deter participation in action against China in the first place rather than to outright dominate them.
For the above homeland defense needs China requires having significant expeditionary forces to operate within and along the 1st island chain. Because of the heavy military and diplomatic burden of China's homeland defense needs, a China that does not overextend itself will never bother with long distance power projection to the scale of participating in any sort of full scale conflict, which requires forward basing far beyond the scale of the first ever Chinese overseas base in Djibouti, even with a much less capable nation state. And if China achieves sufficient security through diplomatic means with local countries it is unnecessary for it to try to do so through military means unless a third country militarily threatens local countries.
Which brings us to the US threat to China, which is once again best dealt with from the Chinese point of view through diplomatic accommodation or competition. Because of China's homeland defense burden it is unrealistic for China to push deeper into the Pacific from a deterrence standpoint. It is also unnecessary as long as the ultimate hedge of nuclear MAD remains viable without China needing to move its forces further out.