Although I do think a military invasion of Taiwan is unlikely in the near-term, one has to wonder to what extent their "wait it out" strategy is predicated on a belief that time was always on their side, and whether that thinking has changed given slowing economic growth and the demographic crisis coming into view.
It may very well be the case that the calculus in Chinese leadership's minds has changed and that they no longer feel time is on their side.
It is also worth acknowledging that both foreign and domestic policy under Xi Jinping is characteristically different than under the previous generations of mostly technocratic, consensus-driven governing, so any assumptions about what is or is not the Chinese MO may be somewhat out-of-date. We have not seen this level of consolidation of power and cult of personality since the days of Mao.
From what I've heard from my relatives in Taiwan, mainland China has already been sinking its claws deeper and deeper into the country. If anything I think that Taiwan's reaction/resistance to that sort of takeover is probably what will be more likely to push China to military action, though I still don't think we will see official bombs in Taipei for decades.
And I understand what you're saying about Mao cult of personality power but he isn't that many people before Xi. After Xi, I expect it's possible we'll see one or two Xi-lackey leaders before another popular/powerful figure emerges and rules China for another forty years. So far Xi doesn't strike me as the type of person to go all bombs away. That sort of action would be a huge departure from how they govern now.
And really, it's not fair imo to say policy is different now than before. Fifty/sixty years ago, China was basically a third world country fighting a civil war with tens of millions of its own people dying. There wasn't any real foreign policy involving invasion that mattered, lol. I mean, Taiwan was more likely to be militarily "invaded" back then than now, and back then Taiwan wouldn't be considered a "foreign" policy issue but a domestic one anyway.
Anyway, I guess I'm not totally disagreeing with you and I think there's a real possibility you may be right and I'll eat my words. I hope I'm wrong though, if anything because I dislike blatant, open faced warfare/violence a bit more than other kinds of imperialism. Personally I would be really upset if someone came in my house and told me I wasn't allowed to speak English or celebrate Christmas anymore, but I'd prefer that than my son being murdered at school with a bomb 🤷♀️.