The problem is that Putin is not going to give up. The Russians are pretty much numb to suffering. Usually, they do not reach their breaking point (WWI was a notable exception).
"By the second winter, the boots had worn out... but the line still held. Even Comrade Lenin underestimated both the anguish of that 900-mile long front... as well our own cursed capacity for suffering. Half the men went into action without any arms... irregular rations... led by officers they didn't trust." - Yevgraf Zhivago
Putin is losing either way. And you are right that he can’t give up or he gets hung.
Russians are complaining. The colleagues I have in Moscow, well we don’t discuss the war or politics, and i suspect they are lightly pro Putin, anyway, even they are saying things like “our leaders need to re evaluate”, of course no mention of the Tsar, no mo. But even that statement is pretty surprising coming from them.
The longer the war drags on, the more Russians will be like 1917.