This point of view I agree with. It is definitely a proxy battle. But there is something about being on the right side and being on the wrong side.
Since 1979 Iran has been ruled by a regime that believe's in pan-Shia ideology that empowered and organized Shia Muslims in many parts of the globe including in Arab world. They supported some Sunni groups also, such as Hamas. Hezbollah is one facet of this broad pan-shia strategy. I do not disagree with it. I see nothing wrong with Shia Muslims helping other fellow shia Muslims.
Sunni Muslims do not have a movement with such wide support. Salafi extremist idea spread by some Gulf nations specially some Saudi private initiatives are despised by many Sunni's as it caused a lot of problems (extremism, terrorism etc.) around the world. Muslim Brotherhood without the violent part and more moderate forms of it have more broad support among Sunni Muslims, but even an Arab or Egyptian led effort does not have wide support among non-Arab Sunni Muslims.
Non-Arab Sunni Muslims detest this Shia-Sunni fight in the Arab world because it is bad for Muslim unity among 1.6 billion Muslims. And as far as I can see this Shia-Sunni fight in the Arab world is being instigated by non-Arab Iran to extend its influence in the region. So if we look at it this way, Iran is actually the main party that is guilty here, that is supporting an indefensible regime of Assad, because of pan-shia geo-strategic balance in the Levant. Hezbollah is of course drawn in, because without Assad, the logistics is broken, also Hezbollah's position in Lebanon is threatened with a Sunni majority ruled Syria.
Britain and France have created the current nation states with Sykes-Picot agreement and Arab spring is now working to take the region back to its natural balance:
Sykes
Iran got a temporary boost due to Bush's idiotic policy of Invasion of Iraq which handed Iran a strategic victory by bringing a Shia ruled Iraq, but this shia-supremacy is against the natural balance of the region, as Sunni Muslims are majority in this Arab region.
GCC countries feel threatened by Iran's instigation of Arab Shia population, although I hope someday they move away from monarchy when the time is right. Turkey was not interested in this conflict at all, it was forced on them, they had no choice but to support the rebels, after Assad killed so many innocent people and so many refugees spilled over in their land, not to mention the Kurdish problem that is raising its head.
Overall, I think China and Russia are both interfering in a region that they do not understand this region very well and its wider implications among Sunni Muslims. As I mentioned much earlier in this forum, I feel that both country's current Syrian policy is a strategic blunder.
Arab Spring is in many ways threatening for the West and Israel, but they embraced it, because they understood that they have no way to stop this force of history and by being on the right side, they will reap more benefit. China and Russia I am afraid will come out as losers due to faulty foreign policy. In my opinion both of these countries need to question their strategic analysts who are making these decisions in Moscow and Beijing and need to have better intelligence on the ground. Failed policy is always very costly.