A threat to the balance of power doesn't need to be addressed by military might from everyone else, only when the breaker of the balance is in immediate danger of fighting everyone in short order and rising to a hegemon. And a break in the balance of power doesn't have to threaten the emergence of a hegemon in a treaty situation (say, do you think there was a threat of a hegemon before WWI?)

Your focus is solely on wars between a hegemon and a sole non-hegemon started by the latter to cotestg hegemony, ignoring wars between two non-hegemons, wars initiated by the hegemon, wars resulting from internal conflict in the hegemon, coalition wars, and raids.

As a result, wars are simply fewer in number and intensity today, worldwide, than they were before.

A claim not just I keep contesting on this thread.

_{*Lunatic*, n.
One whose delusions are out of fashion.}