It could happen. The world is dedollarizing as a direct consequence of the trade war.
I realize this is kind of a joke, but...
The US will continue to be the most powerful military in history for a very long time even with a highly incompetent top-layer. It will just have less people with the wisdom and power to push back on the president's worst impulses.
Unfortunately(?) there's not enough coke in the world to put much of a dent in our current military spending (which they hope to increase even further to 1.5 trillion dollars in 2027). And if the price of coke ever did become a problem, well the US now believes it reserves the right to the entire western hemisphere which includes Columbia...
On a more serious note there is also likely to be a rapid burst of nuclear proliferation across the globe as everyone else adjusts to this new reality sans the traditional post-WW II world order.
On the current Trump path the world is going to get far more dangerous and chaotic, not less.
I get the impression that Trump is pretty negative on nuclear weapons and I don't think he'd do something that could provoke nuclear retaliation. But I doubt he'll be our last mad king. I think the odds are pretty high of at least a small nuclear war within my lifetime. Even if the US keeps it together, proliferation means much higher odds of some idiot leader somewhere pressing the Button.
But I'm pretty certain that outcome also wouldn't be a net positive for the rest of the world in the short or medium term. Very little of the rest of the world is insulated from the US economy.