I think the West is weak militarily, economically, and in almost every way because it is decadent. Western Civilization has lost confidence in itself, and millions think it has nothing to offer. This results from all the wars, the racism, the problems that Western Civilization has not, so far, been able to solve. Western European nations, for example, cannot even muster the energy or the will to survive.
I don't know whether Putin understands this or not, but he doesn't care.
He knows the West is weak.
He calculates that he can bully Western leaders.
And he's right.
Putin's not concerned about "Global Warming" or endangered species. Neither are the Chi-coms.
Weak or not, — all that is relative, — the post-Soviet world remains a parasite on the Western Civilization’s body. The moment the West closes the pipe with the visas, high tech products and, simply, food, whatever it is that Putin think he has collapses. His own buddies will shoot him and that will be the end of his Crimea conquest.