Dissolution after Putin's ultimatum (and subsequent invasion) IS capitulation, no way around it I believe.
And our foreign policy IS determined by Americans, Kiev is dependent on us, Poland basically tries to mirror our foreign policy, they even went into Iraq! Kiev is in even more chaos right now (than 6 months ago) because the aid that allowed Ukraine to fight is less forthcoming. If anything, the silly games of American politicians affect our foreign policy and the policy of third countries. They will pick some domestic issue, link it to foreign policy, and then we all get gridlocked and into more chaos.
What defines a 'Great power'? Is this a historical title? Or does it correspond to a certain level of capability?
I ask because, to anyone proposing this kind of international 'order', the decisions of a 'great power' are basically law in their respective sphere of influence, while the 'weak' in that sphere suffer whatever they must. The role of a smaller power in this view is to submit to the 'great powers', or else they will be subjugated by force while everyone else sees and goes 'well... their sphere influence'. That's what putin tries right now, and that's exactly what he did in Chechnya 24 or so years ago... Granted, the USA has done basically the same thing.
Putting the question of definition aside, as well as the question of limits of the respective spheres of influence; the only value such a system has, in my view, is as far as the 'great powers' act in the interest of the populations in their spheres, as far as they allow them to prosper and be free. The USA has many times been destructive in the world, it is so far from perfect or moral, but despite this, we are the most humanistic and most powerful empire that has existed.
To add to this, the Asian + European + African continents dwarf the Americas. If America cedes all its influence to China, Russia and India in their spheres, I believe the people in charge of China or Russia would eventually try to unify this power. Given what the people in charge of those countries justify (in law) doing to their people, I really don't want to see this scenario and I believe it is likely. Granted, IF the governments of China or Russia were more humanistic, less authoritarian, then I would feel more comfortable about the US ceding global influence. But until that happens, I don't think dissolving NATO is a good idea for America in the long term.