No I think it will be a huge deterrent on US intervening in China's backyard. Right now US think it can just send planes and ships and cause absolute destruction inside China while staying safe in the CONUS. If China can change this to a situation where most parts of CONUS are under threat of Chinese missile attacks, that will change the political calculation of fighting China. Fighting a distant war is a completely different conversation from fighting a war where your constantly seeing missiles explode near you.China could just strike those bases and cut off US presence in the Asia-Pacific, bringing the war to the US is too costly and realistically isn't going to achieve anything.
Moreover, if CONUS is under threat of missile strikes, US will have to spend huge money trying to develop air defenses inside CONUS, which means it will have less resources to put into offensive platforms. US will also put less forces forward deployed. They will have to keep alot more planes and ships back in order to defend CONUS. That will mean much less forces can come into the first island Chain to fight.
The way China can strike CONUS could be a strong combined fleet of Carrier strike groups that can essentially penetrate US forward deployed forces and strike deep into the Pacific. Kind of like how German force penetrated the Maginot line. If US puts too much forces in the first island chain, then China can bypass them and strike deep inside in a surprise attack.
Another option could be ultra long range bombers with standoff missiles. They can also develop ultra long range cruise missiles that can fly 10K miles and strike into CONUS.
Finally, submarine force with large cruise missile arsenal could be another option.