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The Treaty of Versailles was punitive, but it was less burdensome than the treaty that Germany imposed on France after the Franco-Prussian War. As it happened, to meet the terms of that treaty, the French buckled down to common purpose and reformed their government and economy. In consequence, France paid off a heavy gold indemnity early and entered into an era of prosperity and accomplishment that became known as La Belle Epoch. Revanchism soon faded.

You are correct of course about the changeable nature of Europe's boundaries before WW I. The catastrophic nature of that war stemmed from advances in military technology, organization, and resources. In effect, Europe's armies had suddenly become more powerful and destructive. Put to the test, Europe's bumbling leaders failed to make peace even though their countries were suffering catastrophic losses.