1) Insufficient troops. Bluntly put, 150-200k troops (of which likely less than a third are actual combat arms soldiers) is not nearly enough to defeat a country the size of Ukraine unless the Ukrainian will to resist was low. It wasn't, so....
2) Poorly-trained/motivated conscripts. Draftees can fight well when motivated by a true sense of national necessity, and when given sufficient training. But 12 month conscripts -- which is barely time to figure out how to use your equipment correctly -- invading a country whom most of them likely considered a friendly neighbor -- is dicey at best. Like drafting a bunch of American kids to go invade Canada.; 3) Crappy logistics/maintenance. This has never been a Russian strong suit, and given the levels of corruption in their military, they likely lack sufficient space parts and other supplies.
None of these things were unknown, or should come as a real surprise to anyone familiar with the Russian military. Of course, none of these problems would have mattered much or been exposed if Ukraine had simply given up or sough terms as quickly as many expected.
Your two points are sound observations. And, you are right: Putin expected Ukraine to throw in the towel if he so much as farted in its general direction.