Sure, ships can try to go around. But most of the other gaps are not viable for large scale shipping as they are too shallow and the Indonesian sea is not calm nor does it have developed ports for shipping at large scale. Most of the shipping will have to go all the way around Australia.
Additionally piracy has not been eradicated in the Strait of Malacca, which is only 2.5km wide at its narrowest point. The routes through the other straits feature considerably more piracy and you can bet on the US quietly boosting the pirates.

I think you underestimate the harm that raising the cost of energy in the country will do to Chinese manufacturing, European manufacturing essentially collapsed as energy costs became economically unsustainable.
I think you're underestimating how significant this would be for China due to its manufacturing.
I haven't really done the math but how many millions of barrels can Iran and Venezuela even supply? I am suspicious that they would not be able to fulfill China's existing needs:

All of this is somewhat moot, China recognises this problem itself and is aiming to completely electrify the country to get off oil entirely. My point however is that moving to the socialist mode before removing the vulnerability would be a bad move. They should get self-sufficiency first. Luck of geography meant the USSR was able to fully provide everything it needed within its own borders, China doesn't have the same circumstances.
You'll never take me alive
Is there a mirror of these videos anywhere?