Here's what I see happening.

Some back and forth, increasing desperate Neocons with no reverse gear pushing the thing. Western society is over indebted and teetering. Eventually the world explodes in fire, billions die, and some version of MAGA presides over a much reduced United States when it ends. (I'd rather believe your prediction but do not).

There might be a way to avoid the scenario (unlikely at this juncture but possible). It isn't with wishful (Russia has lost half it's armed forces) and hostile thinking though.

Just my opinion.

To the vast majority of the world this is a good thing, if anything - they get oil cheaper, because Russia can no longer sell it to the west. To US this means more money being pumped into the industry, which is good for their economy. EU... EU has already been through something much more hardcore - COVID - and temporarily shutting down some gas-dependent factories will reduce revenues, but it's not the end of the world. None of those are in any way in danger - Russia lost to Ukraine; one can only imagine how many hours it would take them to lose to, say, NATO. Or USA. Or EU alone. The world won't explode, simply because Russia has no capability to make it explode.

To Ukraine, this is about pretty much everything - Russians are quite open with their intention to erase Ukraine as a nation, and hundred thousand civilians killed in Mariupol alone proves they are serious.

And then there's Russia, USSR's retarded offspring. They will likely get a lifeline, but it's unlikely they will be allowed to keep the army.

Well, although I wish it were not so, it's an interesting time to be alive.

We will see.