If World War I would have broken out in the late 1910s--with Britain remaining neutral in World War I--instead of in 1914, would there have been a greater chance of World War I ending in a compromise peace in comparison to our TL?
Basically, I'm thinking of this scenario: Franz Ferdinand survives the assassination attempt on his life in 1914 (and so does his wife). Thus, war is averted in 1914. After Franz Joseph dies and Franz Ferdinand comes to power in Austria-Hungary, he makes plans to implement universal suffrage in Hungary. This causes Hungary's elites to decide to secede from Austria-Hungary--thus sparking an Austro-Hungarian civil war. In response to this war, Serbia will invade Bosnia and Herzegovina, Vojvodina, and northern Croatia--ostensibly to aid Franz Ferdinand in his fight against Hungary but actually to make a land grab for itself. I suppose that Romania could also invade Transylvania on these same grounds at the same time in this scenario. Anyway, when Serbia and perhaps Romania as well refuse to withdraw from their territorial conquests, Austria (which has now reconquered Hungary) declares war on them, thus causing Russia to declare war on Austria, Germany to declare war on Russia, and France to declare war on Germany. Since 1917 is too late to use the Schlieffen Plan (due to Russia's growing military might), Germany declines to invade Belgium in this scenario and instead focuses on an East-first strategy (something which is also necessitated by Austria's troubles). Thus, Britain remains neutral in this TL's World War I.
Anyway, would there be a greater chance of World War I ending in a compromise peace in this TL in comparison to our TL?
After all, with Britain--and thus the U.S.--remaining neutral, the Entente are denied a large source of manpower (and hope). Meanwhile, since the Schlieffen Plan would not be used by Germany in this TL (since it would have become outdated by 1917), Germany would have no hope of a quick victory--thus forcing Germany to choose between a compromise peace and a long, drawn-out war which it has no guarantee of winning. Would Germany have been willing to fight for years in a war of attrition with France and Russia, or would it have tried looking for a graceful way to exit this war with dignity?
Any thoughts on all of this?