That still seems too good to be true to me, but serious people think it could happen or is happening. Here’s Francis Fukuyama:
1. Russia is heading for an outright defeat in Ukraine. Russian planning was incompetent, based on a flawed assumption that Ukrainians were favorable to Russia and that their military would collapse immediately following an invasion. Russian soldiers were evidently carrying dress uniforms for their victory parade in Kyiv rather than extra ammo and rations. Putin at this point has committed the bulk of his entire military to this operation—there are no vast reserves of forces he can call up to add to the battle. Russian troops are stuck outside various Ukrainian cities where they face huge supply problems and constant Ukrainian attacks.
2. The collapse of their position could be sudden and catastrophic, rather than happening slowly through a war of attrition. The army in the field will reach a point where it can neither be supplied nor withdrawn, and morale will vaporize. This is at least true in the north; the Russians are doing better in the south, but those positions would be hard to maintain if the north collapses.
And a news report relaying the thinking of officials in Estonia:
One country in Europe has been bolder in making projections that this war will not end in Putin’s favor: Estonia, for which Russia has historically been the overriding national security and military preoccupation at all levels of government. On Feb. 28, Mikk Marran, the head of Välisluureamet, Estonia’s foreign intelligence service, told New Lines that he didn’t believe Putin could “keep up an intensive war for more than two months” and that ultimately “Russia will not win this war.”
A senior Estonian analyst with years of experience tracking Russia’s military affairs concurs with that assessment but doesn’t even think it’ll take another two months to bear fruit — it already is doing so.