I don’t understand why you’re under the impression that they don’t “scare” China or Russia anymore. While China has invested heavily in anti-ship missiles, the US still poses a serious threat to them. Same for Russia. While we obviously don’t want to go to war with either of them, it’s hard to think that China’s ASM capability somehow completely trumps the US sea power. The US still has a great ground force, a Navy that can’t be beat, and a great Air Force. While China’s ASM’s might potentially create havoc for the US, the very presence of their bases around the world helps to negate that.
They could sink US carriers, and we still have air bases around the world to launch attacks from. It’s a matter of overwhelming the enemy, and despite the US having a greater threat in the form of their missiles, I hardly think that makes the US Navy obsolete, which doesn’t even address the Air Force and land-based troops.