Effects of emissions take about 20-30 years to be seen, so today’s emissions are already locked in to be felt mid-century. That should help put the 1 degree C rise you mentioned in proper context.
So, yes, things are that gloomy. We need immediate, global efforts in a war-like sense to change our entire energy sector if we are to avert the worst of it, and of course we’re only headed faster and more headstrong in the opposite direction. It’s not incorrect to say that we’re most likely completely fucked, and that Gen Z will be the last generation to experience a peaceful planet.