The best way to look at this is by examining what each country got, and did not get, compared to their prior demands.
Under this Iran deal did America get:
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Iran’s Unconditional surrender? No
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Regime change? No
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Guaranteed end to Iran’s missile program? No
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Guaranteed end to Iran’s nuclear enrichment? No
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All of Iran’s current stock of enriched uranium? No
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Control of the Strait of Hormuz? No
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Unrestricted traffic for the Strait? No
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A ceasefire to Iranian attacks in the area? Yes
Under this deal did Iran get:
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A ceasefire to American attacks on Iran? Yes
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More control over the Strait than Iran had before? Yes
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Retain the ability to limit transit through the Strait? Yes
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A new ability to impose tolls on traffic through the Strait? Yes
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Lifting of American sanctions against Iran? Yes
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The release of frozen Iranian assets? Yes
The United States agreed to end hostilities it originated in exchange for Iran agreeing to allow limited transit through the Strait of Hormuz that might be 20 to 30 percent of pre-war levels and allows Iran for the first time to charge tolls for Strait passage. Iran will decide which ships, from which nations, transit the Strait according to Iran’s own timetable.
Iran has also gained the knowledge and experience that it can close the Strait of Hormuz, generating global economic chaos, and there is nothing the mighty United States can do about it. The security of that assured future leverage will ensure Iran’s status as a regional power in year to come.
We spent tens of billions, and killed thousands, to “achieve” this.