Lets not debate what would have happened to Nepal or whether Nepal would not have existed if it had not been for PNS. We never know what would have happened. The worst case scenario would be either we would be Indians or Chinese. And as far as nationality is concerned, it is all relative.
If we would be Indians now, we would be proud to be Indians.Same goes with China.
We would be as patriotic to India or China as we are now to Nepal. We would not be remorsing that we are not Nepali coz there would not be a notion of Nepal or being nepali.
We would still be a sovereign and independent nation.