Don't see this as a Russian loss. Just a step in the process. We need to identify the end game. I'm still not sure about that part.
Who knows what the Russians wiill do next but there is no doubt in my mind that so far this has mostly been a failure for them. I think they definately wanted to overrun Kyiv and could not. I think Putin wanted Zelensky either dead, in their custody or forced into leaving the country. Hasn't happened yet. They have also lost some serious amounts of men and machines even if the most conservative estimates are true. And they don't have the endless supply they used to when the Soviet Union existed. They also don't have the thriving economy to replace them either. California has a higher GDP than Russia. So does Texas and New York. Russia is currently 15th on a list of the top GDP countries which puts them just under South Korea. I would lastly say that Russia's prestige as a military super power has taken a serioius ding so far in this conflict.
The best index to a person’s character is (a) how he treats people who can’t do him any good, and (b) how he treats people who can’t fight back. - Abigail van Buren