By now, if the war was heading to escalation, we'd see that. It started low, peaked for a few hours, and died down again. So let's talk results:
Pakistan:
Got a few operational successes, but needs to mostly worry about over-confidence and possibly learning the wrong lessons.
They should study why they succeeded, the press harder in that direction.
Being tied to China for a qualitative advantage which China achieved only recently, Pakistan should decide whether to double down on its relationship with China and strive for access to better platforms and weapons, and in turn provide new contributions.
India:
Really needs to do its homework now. Its decision to only strike terrorist sites in the beginning at the (materialized) risk of quality and non-attritable platforms, and allow Pakistan to prepare its forces, has been a serious miscalculation.
It lost a lot, for little to no gain.
And the biggest loser of all this..... is Taiwan.
China had just validated its systems in real combat against western equivalents.
Taiwan may thus end up in a state of not only quantitative inferiority, but a qualitative one as well.