Chances of NATO and US succeeding in Ukraine in-spite of close to $120 billion military hardware to Ukraine at best are nil.
Yes, the US weaponry will inflict huge damage on Russia but in return damage to Ukraine and rest of Europe will be great rather insurmountable. Remember, it is Russia which turned Nazi Germany away from the gates of Moscow, Leningrad and Stalingrad. They instead destroyed Germany/Berlin before allies got there to claim victory.
Yes, there is a merit in seeking peace. Ukraine should give up its obsession on joining NATO and Russia should withdraw. None is likely to happen hence, war will contune.