>in the spirit of celebrating peaceful achievement. Maybe a much smaller take on it would go back to those roots.

It is blasphemous that countries actively waging war or passively engaging in proxy wars or other conflicts (eg: trade wars) get to play in the Olympics.

The first requirement to participating should be that the country is at peace with others, in the literal sense. Yes, this is going to evict like 90% of the world including countries like the US, but this is a philosophical hill worth dying on.