They have to keep winning every day, because they are encircled, and are invaded every night.
Putin will just keep sending the conscripts in, until they run out of ammo. Even if he has to sacrifice 50,000 of them.
But if they can keep it up, and get resupply of tank killing missiles, there is a chance. In any event, facts on the ground will influence whatever settlement might be reached.
The conscripts are not reliable and terrified of ATGM. They run away when the first Russian vehicle in a column is hit rather than fight. Russia has some elite units but they are not enough.