I think it's a tricky situation.Nobody in the west ever thought Russia was a formidable opponent in conventional warfare. The question that was answered in Ukraine is were they capable of fighting through layers of corruption to even get to the defending their borders...which has been answered. Neither the Wests or Russia took Ukraine's military seriously and both have since learned.
The problem for Ukraine is Russia is retooling in the way of more and more artillery and cannon fodder. You see it on a small scale today as the battle lines are slowly moving west and north again. The US and the West continue to dither and operate without a plan...unless the plan is to just bleed Russia until they lose enough troops to just give up. Personally I thought we were past large proxy wars like this but it looks more and more like the evil of this strategy is alive and well.
Under reaction and over reaction are both legitimate threats.
I do think the plan is to do a slow bleed.
It's like cooking the lobster.
You slowly raise the heat and it never jumps out of the pan.
Of course fighting is a threat (a proxy war) but so is letting them play gangster in Europe.
Either one will have lots of really negative consequences that will allow anyone to confirm their biases.