The USA has gone too far already in regards to inciting permanent unrest and even a war since 2016. The USA backing down on the added provocation's via Pelosi, would only increase the worldwide ridicule the USA is already facing since Iraq, Afghanistan not to mention the buddy buddy episode between Dumb Trump and slim Kim. (So the USA has already maneuvered itself into a corner).
In my total 40 years in Asia and especially my 20 years in China, I am aware that we Westerners always make the huge mistake of anticipating e.g. a reaction or assessment by China to be based on the same mentality expressed and beheld by us. And that is simply not the case. Especially the Chinese have a total different way/mentality towards a possible reaction in view of solving a problem.
IMO if Pelosi's visit should go ahead, Beijing will not retaliate towards Taiwan's population (why should they kill/endanger their own people - just because the US want's this?) but directly towards US interests. Therefore demonstrating to the world = it's the USA that started these provocations, and anyone who is provocative towards China's national security will face the consequences. "you play with fire, you burn"
Just as a possible example of Chinese mentality, their assessment and reaction towards Westerners expectations towards Taiwan.
1.The most vulnerable country in Asia in regards to US politics is S-Korea. N-Korea (covertly incited by China) would announce it's intentions to attack S-Korea? "feeling endangered due to US/Taiwan issues", depending on how much political and economic chaos such an announcement is able to create, maybe even fire some missiles into S-Korea for a day or two.
2.Due to the USA being in clear breach with the Sino-US treaties - showing the world that the USA and it's NATO can't be trusted, (there are e.g. plans to involve German Air-force assets to participate in "navigational freedom" demonstrations in the SCS), China lends ultimate military and economic support to Russia.
3. Stop all trade shipments vital to the US economy (maybe in a 2nd step also the EU)
4. and so on.... anything, but certainly not attacking Taiwan.!!
If Putin would be a Chinese - he would have used Belarus to solve the Ukraine/NATO issue !!! - just my 5cents