Just how bad things are for Russia is nearly impossible to grasp in the short term. They can't advance in any meaningful way. That is, after having:
- Squandered the soviet hardware stockpile inheritance
- Destroyed the primary oil & gas market
- Pissed away the 30 year war chest
- Shown their army and it's equipment to be hot garbage.
- Become junior vassal to China in the anti-west alliance of authoritarian shitholes
- Lost Syria, Hamas and Hezbollah. Iran got smoked by Israel in all-out missile exchanges.
- Lost power projection into the Black Sea and thus Mediterranean
- Lost influence over the Central Asian republics to China.
- Can refuse no demand China makes going forward
- Lost significant potion of the strategic bomber fleet. And the Black Sea Fleet.
- Lost any political credibility going forward
- Have assembled a shitty coalition of corrupt ally countries that only run on bribes
- Their entire Quantity > Quality Horde War philosophy is shown to be untrue, whether about men or machines.
The USSR used to have idelogical allies. Useful idiots in the west who would sell secrets to them for anti-capitalist sentiment. These days, it's plain to see they are simply a debauched, corrupt mafia. That's enough for some people, but maybe(?) less useful as a tool for finding new agents to do their bidding when money is the only motivator.
It's not all bad for them - they control the U.S. Emperor and his party - just imagine the kompromat they have on the entire GOP going forward. And they are ultimately best at corrosive disinformation, and are having great success farting up democracies with their right wing populist franchises across the West. That's probably where they will focus their energy going forward after having wasted their army in Ukraine.
He made many blunders. Broadly, I think the biggest ones were adopting a 'salami slice' strategy to bleed Russia long term to try and leverage their hubris about continuing this bloody war long after it was obvious it wasn't going to go the way russia wanted it.
Incremental escalation of weapons systems to keep Russia expending it's irreplaceable army hardware, so that they are neutered in the long run. As opposed to a quick, overwhelming NATO response where Russia retreats, gets the propaganda 'win' that they were indeed fighting all of NATO, and that their decision for restraint was to preserve global peace, and their defeat to an inferior 'little brother' race was not proof of their actual corrupt weakness. This isn't a bad strategy at all - if it works. But that leads to the REAL blunder - never planning a successor when it was clear he would be a one-termer, and assuming that Putin's cock-holster Trump could never win again. The classic Boomer problem, staying too long and failing to make plans for the next generation.
No-Fly zones are logistically significant, but not undoable. Totally agree with you, a no-fly zone is the end of the war. And Putin was not going to use nukes or attack anyone else, we can clearly see that now. Biden fell for escalation bluffs, but I also think his strategy was always going to be 'let's make them bleed themselves out', but again, under the bad assumption that his party wouldn't lose the next election to a brazen Russian asset.