The losses in this war in general and to armored vehicles specifically isn't especially stark in comparison to other modern wars that involved mechanized armies.
This doesn't mean armored warfare is no longer effective; it means if you fight a capable opponent with good situational awareness that you can expect heavy losses and failures along the way...
Near peer fights do involve high losses, the thing to look at is relative "effects" in asymmetric encounters to get a measure in changes of relative balance between forces and try to figure out how warfare would change.
----
Some people think that utilization means strength of a concept, but that is not true at all.
The common error from looking only at the tactical level is that wars are not won by only doing tactically "easy, advantageous" things. Instead a strategy has to be put together to win the war and many of them will involve difficult and disadvantageous tasks when fighting is between well matched powers. The difficulty of offense in ww1 does not mean victory can be attained by a purely defensive strategy, and instead there is need to heavily economize in defense to enable greater resources put into offense when the strategic situation requires offense.
From the study of economics we can see that were are "paradoxes" of productivity:
https://en.wikipedia.org/wiki/Baumol's_cost_disease#Labor_force_distribution
This effect would logically would apply equally to warfare. The development of a new artillery piece that enables a doubling of rate of fire can logically mean good reason for halving of artillery forces. (note neither ammo supply nor suitable targets have increased) Another example is nuclear weapons, where excessive capability do not translate to increased political effects despite unparalleled increase in physical effects. Improvement in powerful long range sensors again, can translate to a reduction of sensors employed when the starting condition is saturation of sensing capability.
This negative relation between capability and resources allocated under optimized plans mainly stop when it turns into a symmetrical arms race: hard to defeat fighter aircraft drives more fighters to fight fighters. Other symmetric arms race are, tank dueling, artillery duels, battleship duels, and so on.
In asymmetric conditions, increase in cost effectiveness can mean reduction in actual resources allocated. The inverse also holds, a reduction in cost effectiveness can mean a increase in actual resources allocated if it is a essential capability. Take some classical asymmetric tasks, like air defenses, mine countermeasures or anti-sub capability: there is no skipping it even if no economic means is available unless one goes though huge and complex adaptation all the way to the strategic level. The opponent improving nuclear subs (reduction of your force effectiveness) can either mean you send more on ASW escorts, or you give up sea control and dump the navy altogether, quite a bimodal thing.
Similarly, the opponent getting new anti-tank weapons that doubles force effectiveness against tanks. You can either double your tank force, or choose a strategy that no longer rely on tanks. Since tanks enables a very particular form of warfare, that of maneuver warfare, with specific characteristics of rapid ground taking, it can not be replaced by aerial bombardment campaign (which is useless in taking land) or infantry campaign (that is slow and may not achieve goals fast enough given exterior constrains on prolonged warfare: political unrest, limited strategic resource stockpiles, etc) so for some political situations the correct answer is, yes double that tank force.
So if 10,000 tanks wasn't enough, have you tried 50,000?
Again this isn't a new situation historically; AT guns were a cheap alternative to tank on tank battles and during WWII the US had an entire doctrine of employing AT guns, both towed and SP (tank destroyers) en mass against tanks rather than using tanks as the primary anti-tank weapon.
Anti-tank doctrine was a failure. The by mid war towed anti-tank guns are immobile tactically, not stealthy upon firing and too large to be easily protected by digging in, easy targets for artillery. Formations with towed guns have worst tactical performance even in defensive actions (never mind offensive actions) relative to those with self propelled guns: it only make sense for nations with industrial deficiency relative to manpower while the US replaced all towed guns.
For self propelled guns, it naturally evolved into the M36 with a roof, which is just another medium tank with different gun armor combo. It is found to be more effective to have general purpose tanks that enables a formation to take on the roles of pursuit, defense, and assault, increasing manpower efficiency greatly with only very slight loss in equipment cost effectiveness in any single role as high velocity, large bore gun, frontal armor and mobility is useful in all actions if not valued equally.
The tank was simply the best choice for a lot of tasks and situations. The drive for tank masses was duel to the symmetrical escalation: tank dueling demands tank forces even if it fulfills other tanks sufficiently.
-----
That was then:
The much more portable nature of ATGWs has changed the game somewhat but offensive armored operations were always risky, particularly in any kind of close terrain.
Risk has to be quantized.
Consider the campaign after Normandy. The Western allies have air supremacy enabling unopposed naval landing and continuous strategic bombing of cities thousand kilometers deeper. It still can not stop the panzers from counter attacks, as poor air to ground weapons means multiple sorties is needed on average to knock out a tank and there is no means of attacking tanks on night march or concealed during the day.
Compared to the modern era, where PGM enables multiple tanks knocked out per sortie, sensors enable detection and attack at night and many forms cover no longer work reliably.
Descriptively one can say that tanks are always at risk of air attack. There can very well be a 20x change in relative effectiveness over time and rate of attrition. This does not change from a textual level understanding but changes the actual campaign dramatically as decisive effect occurs 20x earlier as opposed the whole cold war "who won the air war" joke. Losing the tank force in 6 month and losing it in 10 years means completely different character to war.
--------------
Similarly, the platform size for long range anti-tank fires have reduced from 5+ tons to 50kg with ATGM technology, a 100x improvement, with somewhat smaller improvement in other characteristics.
The past decades in desert warfare have shown that armor is a low value characteristic in open terrain especially in the post ATGM era. Maximum sensor and weapon range is decisive, as the Toyota war, Gulf war and campaigns around Syria and Libya have shown. While armor enables the tank to shug off a wide variety of weapons, in truly open terrain it is not very relevant: small weapons are out ranged by sensors and can be defeated via standoff, area weapons do not work well against extreme dispersion possible in open terrain, and it is economic to add long range precision weapons with anti-armor capability, as most of the cost is in range increasing (sensors, FCS) with armor defeat adding very little to system cost.
The primary value proposition of the MBT is in close combat in complex terrain. Small weapons can not be standoff and is extremely plentiful in complex terrain, area weapons are easy to employ with canalizing terrain. It is not that MBTs are less vulnerable in complex terrain, but everything else is much worst as no standoff focused light platform would work well in a close range slugfest with mines, IEDs, and small arms everywhere. Vulnerability also translate to the opponent. It is hard to setup an tripod ATGM while fighting a 50m range infantry fire fight, while it is easy in theaters where forces are separated by kilometers. One can look at the history of heavy tanks in urban warfare roles, and this is merely the old MBT generalization breaking apart with invention of better long range weapon in the form of the missile. The modern MBT is the snub-gunned 75mm pz4, 105 sherman or churchill AVRE, while the ATGM shooter is the 6/17pounder Cruiser tank with mobility, long range anti vehicle firepower and poor HE capability or ability to fight close combat.
"Armored" offensive is more ill suited to open terrain than closed ones.
As an aside, I would equate the idea that "Brute force HV Sabot is always needed to reliably defeat armor/APS/etc" in the modern era in the same category as "175mm Demolition gun is always needed to defeat armor, dinky high velocity guns could be defeated by improved armor and your tank force would be useless, while hull break HE can not be defended!" when uttered in ww2. Defenses does improve, but weapons improve faster than defenses and short ranged, heavy brute force solutions are rarely needed.