This is the first major, sustained, modern, technology-enabled, urban conflict between central authority and ambient/peripheral/distributed community.

Without benefit of hindsight it's impossible to know, but I'd wager that this is the single most important political event in the world right now.

If the people of Hong Kong can stop the aggressive imperialism of the CCP that will be a guiding light for everybody. Conversely, if the CCP succeeds in crushing HK who else is there to stop them consolidating their power?

Matt Stone and Trey Parker?

That in itself may be considered a victory, depending on how far China is pushed and how they respond. If the rest of the world won't/can't do business with China anymore, that would be bad for China. HK's last ditch objective could end up as goading China into chopping off it's own feet to put down the protestors. A pyrrhic victory for sure, but still a victory in the long run.