That is not the only way we can interpret that passage though
The world can be seen as everyone
Even in the passage, It states belief is required.
Remember, those who believe were in a condemned state BEFORE they believed.
This is true about the word cosmos (world).
Paul's whole argument in Romans 1 thru 3 is about the condition of man.. Unregenerate who love their sin, and none seek after God. Both Jew and gentile. Then Paul gives the good new ''But Now the righteousness of God''
The word cosmos (world) can mean everyone- pay attention to what Paul says about this in regards to 'everyone' just before he gets to the 'But Now' in Rom 3:19. The cosmos can mean all unbelievers (1 Cor 4:9), it can mean the universe as a whole (Acts 17:24), it can mean the earth (John 13:1) It can mean all people except believers (John 15:8) etc etc etc.
This is why when we look at the usage of Cosmos (world) we can see it does not mean every single person cf. John 1:29. What does cosmos mean here.. I would say it means believers - Jew and gentile cf. 1 cor 4:9; Ephesians 2:14;
The main point is that.. Christ is given as a gift, and that is from God, and those who receive the gift are those who believe, and this is the purpose of the gift, that those who" believe will never perish but have everlasting life". The world here I would say means none other than all men of different stripes.. as Paul tells us Jew and gentile, Kings,Paupers, servants. we are all one in Christ.. Not every person but only those who believe they are the all and the meaning of cosmos here.
We can see were the word 'cosmos' (world is used of all unbelievers yet not Christians Rom 3:6. We know this as believers do not hate Christ.
Most don't like this, it doesn't seem fair (according to mans standards). Yet it has nothing to do with fairness it is all to do with justice.
Those God saves receives His saving grace, those he passes over receive Justice.
No matter what way we look at John 3:16, God's purpose is limited to those who believe. I agree with the following
“Repent and be baptized every one of you in the name of Jesus Christ for the forgiveness of your sins, and you will receive the gift of the Holy Spirit. For the promise is for you and for your children and for all who are far off, everyone whom the Lord our God calls to himself.” Acts 2:38-39
and
"All that the Father gives me will come to me, and whoever comes to me I will never cast out. " - John 6:37
Those the Father gives to the son will come to Christ in faith and persevere till the end.
Its a good debate, and I know you know this EG, but for other readers remember there is a unity among Christians whether you believe in unconditonal election or conditonal election and that unity is salvation by Grace alone, through faith alone, in Christ alone!