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Jameo
A war of attrition benefits Putin, unless yet unseen internal resistance breaks his grip on power, or NATO quickly increases its military support.
Ukraine depends on the west, and Western societies, companies and by extension politicians don’t have the stamina to care for a foreign conflict for half a year, let alone multiple years. Ukraine’s outgunned and outmanned, and if Putin gets the west to turn off the firehose of money and kit Ukraine needs to survive, he’ll eventually keep at least the eastern districts, and likely more.
Putin doesn’t have to worry about NATO’s military if he can get the politicians to change tack. A long fight increases the odds that western countries decide/need to spend their money domestically, and there’s no lack of potential major crises incoming. Add the allure of cheap Russian oil to power refrigerators in summer, and gas to heat homes in the winter, and the picture doesn’t look great for Ukraine.