I think though Putin understands that such a victory in Ukraine, in the end would be a Pyrrhic Victory. He would lose more than he actually would gain. Now it’s a matter of trying to extract himself, while appearing to win something.
How so if the Russians end up with all the territory they hoped to incorporate into the Russian Federation and if Ukraine is forced to demilitarize and remain a neutral country?
Those were Russia's primary objectives going into the war.