Most of what I've thought so far in regards to this conflict has been covered, but the aspect in which I feel deserves attention is one away from a pure military capability standpoint.
Various users have stated the sanctions Russia is/about to endure as expected, as would China. The narrative goes that Russia is less-able to endure such sanctions due to various socioeconomic and political reasons, which I won't rehearse. That being said, the US imposing such sanctions on behalf of NATO rather than through cumbersome diplomatic means (essentially via the EU) to me highlight the growing rift between US realpolitik and EU members view of their own concerns.
The point I'm trying to make is how quickly Russia has been "disconnected" from the rest of the world, having been done so by a US administration so willing to weaponise it's trade mechanisms and corporations in an age of social activism and hybrid war. The US won't put a single troop on the line for the Ukraine, but they're willing to fight the Russians to the last Ukrainian by supplying them with arms through whatever proxies.
Towards China - plenty of industries have been under sanction for a while now, with the US directive essentially being 'don't let them learn how to make things' essentially, everything from the failed Motor Sich purchase back in the day to French reactors at Hinkley, Dutch lithography etc. US won't make it easy for China to become a challenger. Yet many industries targeted have done the opposite and come out more strongly in those fields. Sanctions are no longer as effective as some would have you believe.
Back in the late 90's/early 00's, China was a strategic competitor. Now they are an existential threat. Perhaps this entire Russian thing is a way for Russia to bleed and suffer while the US sits back and prepares for an ongoing future conflict with China? It'd be good for the US if Russia really did exhaust itself so much on its Ukraine expedition, no?
My thoughts.