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…but it seems to me that everyone was waiting to see if the Ukrainians had a shot at some semblance of victory, or whether all this money and guns were just going down the toilet.

I know there are a non-zero number of American foreign-policy think tankers that view the proxy war as a good on its own, to the extent it weakens a potential rival in an emerging multipolar world. For those folks, the money and arms are not wasted so long as the conflict was prolonged.

Throat clearing: this can be true even if the Ukrainian cause is worthy of support on its own merits.

Regardless of weather the US thinks it's worthwhile the UK believes it to be worthwhile as do the Poles and other Baltic states.