If the ottoman state is a proxy for Turkey, (and its worth noting that its a fair argument it isnt), then otto would be one of the more powerful states of today.
Going against that is the fact that it would have to be an imperial state where lots of Arabs (and others obvi) would want to be independent, so wheter a stable functional state us what they would be or, Russia on steroids is another question.
On the other hand a ottoman state that gets cut down a bit but not to bad and focuses on the bits that matter with the least viable minorities, Northern Syria, Northern Iraq, parts of the caucuses should be able to form a stable Turkish state, where minorities should be containable in a democratic framework.
Although there is still the kurds.