I’ll start taking the PDRChina seriously as a threat when they start reworking their logistics to allow themselves to become a threat.
As it is, they can build ships, boast about numbers of this, that and the other, but they have little to no ability to sustain operations outside their own borders.
Personally, I put the EU higher on the threat list. Although, they have much the same issue with little to no logistical sustainability.
Are you a China watcher on the hardware side? I know there are people whose hobby is to keep track of more glamorous things like war planes, warships, artillery, tanks, and so on, but few who actually look at logistics. I'm sure there are pros who look at logistics, but hobbyists go for the glitz. Jeff Head has been tracking China's carrier development for a good long time, but I don't think I've seen anything about logistics.