I agree and this is what I've read and listened to as well. (1) Putin tell us this is the case in his spoken words and in his written words and actions.

From an economic standpoint, or the standpoint that war is bad and should be avoided this obviously looks insane to you and I. But if you have different motivations, such as you and others described, it could look perfectly rational. It's all about the parameter space you operate in that determines your actions.

(1) Ezra Klein has some fantastic podcast episodes about this - let me know if you'd like a suggestion or two