The loss of a cruiser is a huge blow for the Russians and an equally huge uplifting triumph for Ukrainian morale. Kudos to the Ukrainians for making good use of their new Western toys.
But the Russians are indeed giving it their all now, or at least they're close to full potential. I don't think they're holding back very much, so I don't see the point of saying that Putin needs to wake up and smell the roses. The Russians know they have a major fight on their hands, and they're behaving accordingly. For once they have a solid strategy that they should have had at the beginning: knocking out the Ukrainians in the Donbas and consolidating control over Eastern Ukraine. Now, they should have been aggressive and hit with overwhelming force from the start, but hindsight is always 20/20.
There's been multiple points where I've thought now the Russians are going to start fighting properly. But instead nothing happens.
No use of strategic bombers.
Very little targeting of infrastructure in western Ukraine including roads, rail.
No targeting of supplies entering Ukraine, despite many threats to do so.
No targeting of power/utilities. They haven't even disconnected the nuclear power plant they control.
No attempts to target Ukrainian or western leadership whenever they pop up in Kiev.
All of the above would speed up the end of the war and reduce the number of Russian casulaties. Yet Putin is too chickenshit to do any of them. There is no shortage of Russian leaders who are prepared to do the above (and worse). So if he is incapable, he should step aside.