Too much emotion in this thread. Mods should take some actions.
It's pretty clear now that China's planned response all along has been an immediate large-scale, surround-the-island military exercise right after Nancy Pelosi's visit to Taiwan. This is actually a well thought out response, demonstrating both the restraint to such a symbolic but rather meaningless provocation and the strength of military power sending a signal that China can take over Taiwan if necessary.
China has never said anything close to shooting down Pelosi's plane or even intercepting her plane. But clearly, it has managed the PR extremely poorly, raising the expectation of many that some direct face-off between Chinese and US militaries is likely. I had my doubts that such dramatic measures were in the cards, given the non-military nature of her visit and the (non-)deployment of Chinese naval and air force around Taiwan. In the end, I was almost convinced that the Chinese would at least do some interception regardless if they would eventually let her land in Taiwan or not, because of all the fury, bluster and hysteria emitting from various Chinese channels, official or unofficial ones (after all, it is hardly unprecedented that Chinese military aircraft intercept foreign military aircraft). The resulting impression is that China is all bark but no bite. This, again, demonstrates the poor skills of managing public perceptions by China.
A couple of years ago, I said on SDF that China would need large-scale, joint-operation exercises around Taiwan to simulate the invasion of Taiwan. It's hard to do that during normal times. An occasion like now affords such an opportunity. China needs to do this for the necessary training, particularly in a near-real environment, every once in a while. This kind of exercises will also serve the purpose of desensitizing Taiwan and other countries, until the time comes to convert such exercise into real operation.
China has the military strength to gain the upper hand against the US forces deployed or based nearby around Taiwan now. But it would be extremely unwise to seek a direct military confrontation for this visit. It will take a lot more to get there, individually or cumulatively. But I have no doubt this incident will have long-lasting consequences.