Only to the extent that China values its trading relationship with the world. Taiwan's "de facto" sovereignty is largely permitted by a Chinese leadership that sees no self interest in forcibly occupying its rogue province. This can change at any time if China is pushed into a nationalist posture by other events and Americans should not underestimate the PRC's mindset on this issue. China is an emerging nation that still smarts from her historical (19th Century) humiliation at the hands of imperialist powers, inlcuding the USA. Maybe you and I think they should get over this, but China is a nation which values its face highly, maybe too highly.
Progressive elements in China see Taiwan as a potential Hong Kong... a territory which gives a lot of benefit to China's development through its democracy and free markets. This is why I support Taiwan and hope that its peaceful development of relations with the Mainland will continue. This is why Western democracies support Taiwan too.
Taiwan being a democracy should be seen as an entity whose official position is taken seriously, not just dismissed by you in favour of the minority on the island who favour independence.