"membership in the Board of Peace is a demotion" [Board of Peace]
The explicit framing of the new US-created body as a 'demotion' relative to the Security Council directly evidences how parallel formats strip value from Russia's existing institutional privileges.
Reasoning from this article
The article shows that institutional power is relative, not absolute: Russia's veto is only valuable if the UN remains the primary arena for conflict resolution and legitimacy. As the US creates alternative forums and withdraws from 66 international bodies, it structurally degrades the currency in which Russia holds its most valuable asset. This dynamic generalizes: any state whose great-power status is anchored in legacy institutional privileges faces depreciation when the hegemon exits or fragments those institutions.