I don't think there's any talk of replacing the entire US military though. They just want to reduce Pentagon budget over the coming years, and funnelling that money into stuff like PMCs seems to be an obvious next step. Also, if they're now realizing that they can't take on Russia and China then the policy would be to retrench which means they have less global commitments. Europe being dumped is one example of this. I very much agree with the assessment here https://archive.ph/00s4y