I am very curious on why Germany was perceived as the worst aggressor, and severely punished after it lost. Clearly, Germany wasn't blamed only because it lost: the entire Central Powers lost, but nations other than Germany didn't get nearly as much blame.
IIRC Austria-Hungary started the war. Austria seemed to do pretty fine after WWI.
One of the flaired users here has a very good post on this. However it's still a debated topic.
Austria seemed to do pretty fine after WWI.
You should not forget though that the Austro-Hungarian Monarchy was dismantled and Austria and Hungary severely punished in the Treaties of Trianon and Saint-Germain-en-Laye