So they would basically have done nothing? That's like saying Germany was screwed for attacking Poland. Yeah, if the war never began, they never would have lost.
Japan desperately needed resources while being able to consolidate their gains and avoid war with the United States. That was nearly impossible, to be honest. If they had not attempted any further gains on mainland China while focusing on the Dutch East Indies and French Indochina, they might have had enough raw material to hold onto what they had. They would have faced a trade embargo from the US, so they have to be able to use what they conquer and be ready to give up fighting at any moment and consolidate what they have. Its a very fine line and, as they went on, they would run lower and lower on the essentials to winning a war (oil, steel, etc). If the US ever did choose to fight them, they would be in a worse position than they were on December 7, 1941.