If Putin shared your assumptions, he would have moved his entire military to the Chinese border instead of smacking around former Russian possessions that pose no threat to him. Never assume that your opposite number thinks the way you do.
Putin's smarter than trying to confront the Chicoms. That's why the events like the pipeline treaty have been taking place. In a 100 years will this be viewed as appeasement?, I have no idea.
You also missed the point. Putin has no PR to gain by poking a stick at the Chinese. I think his strategy is a slow growth of possessions, at little risk. This will be finally tempered when the west finally confronts the moves, or at the point to triggering an expansive war.