DBWI: Irish defeat at the Battle of Kinsale

As we know at the Battle of Kinsale, Hugh O'Neill managed to relieve the Spanish forces and achieve victory, setting the stage for further Spanish troops landing and the victory of the Irish rebels, with Hugh O'Neill becoming the first High King of Ireland since 1169.

If O'Neill had failed to relieve the Spanish forces or both forces were defeated, what would that mean for O'Neill's rebellion? What would an English-ruled Ireland look like? Given that Ireland became a rather decent colonial power until its decline in the late 19th and early 20th century, how does this affect world trade and the colonial balance of power?
 
It's hard to say, on one hand O'Neill's allies might betray him but on the other England was nearing bankruptcy and Elizabeth would die in 1603 so if he was still able to hold out he might be able to get some good peace terms. England would probably continue attempting to anglicise and colonise Ireland with settlers. Given that previous attempts to do this were failures both would likely fail miserably and in the long run this would lead to more revolts and eventual independence with the help of the Spanish or French. Ireland under England would probably remain a poor backwater given England's absolutism (and here comes some English nationalist to say the Magna Carta is proof that England would be the most liberal nation in the world if they didn't have a Catholic nation beside them) and the fact that much of Ireland's later wealth came from colonialism.

Given the butterflies it's hard to say the long term effects internationally (although certainly the king of the Two Sicilies wouldn't be an O'Neill!), Ireland's historical colonies would go to other powers although most likely not all to one given that Ireland had a good advantage when it came to colonialism being an island nation, close to the New World, and having a lack of resources in Ireland outside of Munster which motivated the Irish to look abroad.
 
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