Looking at the happenings in the world yeah, i believe i will not be wrong to say that their is a growing argument, especially in light of recent global events that true sovereignty is bleak. On paper, the world has nearly two hundred independent states, but the reality of the "independence", one could argue belongs only to perhaps a small handful maybe ten or so whom exercise genuine, independent control over their systems. The rest operate within constraints so tight that their “independence” often feels conditional, that has always been my belief.
Of course the recent global happenings have made this more visible. Conflicts and sanctions, especially from the cheeto president(i discovered that name here) and geopolitical alignments have revealed how quickly many countries fall in line with the strategic interests of more powerful states. When major powers like the United States, China, or Russia shift policy, entire regions recalibrate overnight.
Economic sovereignty is perhaps the clearest measure. A country whose currency depends heavily on foreign reserves, whose debt is structured around external institutions, and whose budget is influenced by international lenders does not fully control its own destiny. I mean for a long time Frech speaking African countries had their gold reserves held by the "French in France". In many developing countries, leadership choices are shaped as much by foreign influence, look at the history of Patrice Lumumba, how he was killed by the Belgians for trying to move his country from the status quo or even Thomas Sankara.
This does not in anyway mean smaller states are irrelevant. I mean these All powerful states were once small states, U.S was once a colony under the U.K, China was also very poverty ridden, they had a lot of emigration and now they are a world power. It means that sovereignty has always been less about declarations and more about leverage. Truly sovereign countries set global standards, others comply. For many third-world nations, the conversation about sovereignty must go beyond just pride. It must confront economic structure, institutional strength, and leadership integrity. If politics remains an escape route for personal gain rather than national development. One thing that is certain is that weak institutions invite foreign leverage.