Sure the the elites will have their billion dollar bunkers but the modern life is over otherwise. Pandemic was a model of 1% of what fallout would be like.
It seems warmongers have found an end-run around that though, proxy wars like Ukraine which is horrifying.
By any reasonable measure, Russia is losing in Ukraine, and the USA lost in Vietnam. Really awful for both victim nations, but despite various hawks in both aggressors calling for the use of nukes, that didn't happen.
At this point, Russia appears to be cannibalizing their nuclear arsenal into conventional weapons, so I don't think they're a threat. That leaves China and NATO (as a bloc, three nuclear powers), because although I don't know how big Indian and Pakistani militaries are, that isn't going to spread, and North Korea is small enough that if it was dumb enough to strike at the USA I doubt it would manage to be worse than Covid (and similarly with Israel and it's neighbours, but I don't have enough appreciation for their geopolitics to call them dumb even preemptively about a hypothetical like this).
Wouldn't a military power be more willing to trigger Kessler syndrome for 5 years than 500?
Note also that "Kessler Syndrome" is not a binary condition. As debris gets worse, the expected lifespan of satellites in those orbits drops, and as does the success rate of launching rockets through the effected altitudes. However these don't drop off to zero immediately. If the satellite is important enough to justify the elevated risk and additional expense then you can simply plan to launch several of them to get one of them through. Manned missions would be a bad idea, but odds are good that vital weather satellites and the like would be kept aloft.