Funny thing is, China doesn't have only 1 shot at this. Beijing's economy never depended even a little bit on having troops on Taiwan Island anyways.Honestly (and if my thoughts are of similar to his), Patchwork's strategy is basically what I personally envisioned the PLA would do in a Taiwan scenario, coupled with amphibious assaults against outlying islands currently under ROC administration (i.e. Kinmen and Matsu) within the first week or two of PLA's military campaign against Taiwan.
However, I disagree with the "short air/rocket campaign" part. The PLA CMC should assume the worst in their planning, i.e. the ROC military and the ROC administration hunkers down and prepare to fight the PLA to the last Taiwanese men, women and children. That means the PLA should replicate the Operation Desert Storm on Taiwan, but on an even larger scale; swifter and greater intensity; and similar duration of time as the Coalition Forces did on Iraq in February 1991. This would require the coordination and effort across not just the PLAAF and PLARF, but also the PLAN (and most importantly, PLASSF) as well.
China only has one shot at this - there are no second chances.
Furthermore, anyone who still believe that the PLA would attempt outright amphibious assault on Taiwan itself on Day One of their military campaign against Taiwan should go just stand and face any wall nearby and repent.
As long as China has a large and innovative middle class driving a consumption based economy using mostly their own industries, they can keep pumping out cutting edge militaries at will. As an example, see Germany during the interwar years.
And of course due to nukes but also sheer size/geography, the mainland itself can never be defeated nor even attacked in an impactful manner. China as the world's core economy/industry is here to stay for centuries, just like even after repeated defeats and massive self sabotage wars, all the ex-Imperial Europe regimes still have relatively powerful industries in their own right.
Even if we say US does a perfect bloodless takeover of Taiwan ala what Russia did in Crimea 2014. China will spend some time building up, putting huge resources into the military and 5-10 years later, a counteroffensive will come, this time with a much larger military.
America's plan to steal Taiwan is an extremely shortsighted one. But US operates in electoral cycles of 4 years, and whoever manages to successfully invade Taiwan will probably be given the title of greatest US president ever, since or even including Washington and Lincoln. So the idea of invasion is irresistible for them.