No I'm not convinced military action will help anyone.
Let's say we intervene. We go in, obliterate IS, and go home. The Iraqi govt is in control of the country again.
Except after we leave, Iraq will *still* be protected by a military which everybody knows fled from a force of only a few thousand. The surrounding instability will not go away, and someone else will take the opportunity.
And then we'll be back here again
I'm sorry to say it, but Iraq is going the way of a failed state and it is too late for us to really do anything about it. This, as we know, has terrible implications for us as it has already made the country less safe. I think at this stage the best thing we can do is batten down the hatches and try to increase our anti-terror forces' co-operation with as many other governments as we can.