I think your last sentence is quite accurate. They (Trotsky in particular) believed that either Hitler would win the War and smash the USSR or there would be political revolution there and socialist workers revolution in the Imperialist countries. Prognostications by him and his supporters were not particularly good in this regard. While I still hold to some of Trotsky's theories and see his role as very important IN those inter-war years, I think you are correct that today they are of little consequence.
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