I'm even more of a realist than you. I know that no amount of "reassurances" is going to cut it. By your argument, best to give the Chinese the land they seek, your subservience, and your money. They have shown their cards if you wish to respond by offering up your backside, why then should they change their behaviour?
Going back to the status quo with our previous relationship wrt China is essentially licking their spit off the ground. The Chinese seek your surrender, nothing else will do. Sugarcoating surrender will not change the taste. I think we have screwed up really bad wrt China for many years with Modi being no different. I still wouldn't advocate surrender.