Seriously you really think Putin is holding anything back at this point in his disgraceful humiliation?
Personally yes - I think people vastly underestimate how paranoid Putin is of the West's intentions. Although it isn't necessarily about holding back - I think people underestimate just how long Russia can continue to drag ancient **** out of storage and put it back into some kind of service and they'll increasingly tighten up measures that have allowed people to dodge mobilisation and increasingly start to conscript proper unless something stops them.
For instance I often see people banding about the ~250K figure for Russian forces used in this war detracted from the pre-war size of the Russian army (~900K) and claiming that Russia has already used ~27% of its army in this war - which isn't remotely accurate. How LNR/DNR forces figure into those numbers isn't entirely clear but Russia made use of a lot of newly drafted soldiers (sure some will be replacing those leaving service - but the most recent draft pre-war was larger than normal... weirdly), around 2-3 weeks before the war they did a round of mobilisation (used for Ukraine) - I'm not sure the exact size but the western military district was about 4K and they are normally tapped less than the east, they've extensively used private military and militia forces like the Chechens, etc. the actual commitment from the Russian armed forces in terms of man power is a lot less than often alluded to. Though they've expended quite a lot of their more experienced soldiers in Ukraine they still have a large amount of regular forces not used in Ukraine - of which about half already have commitments other than Ukraine i.e. arctic and eastern border forces and so on.
Although how much is serviceable and how long it will take to put it back into service is another matter their storage areas for things like tanks, artillery, etc. are sitting at around 50 to 70% of their long term levels - based on what we've seen so far probably 2/3rds of that they'll manage to get into the war in some kind of functional condition. That doesn't include stuff like their T-90 stocks which they've barely touched for Ukraine and are mostly garaged up (albeit as I've mentioned earlier in the thread there is a reason why a lot of their T-90s are sitting in garages rather than deployed with active forces and they are using T-80s and T-72B3s instead).
Despite the talk of them running out of missiles since March - they still managed to fire 70+ at Ukraine last night - no one seems to know their actual stockpile size of cruise missiles, etc. left but apparently they are currently producing around 60 a month (which is a pitiful number for a war - but means they can keep slogging on).
Same with the talk of them running out of small arms and artillery ammo - but the Kharkiv offensive has turned up large stocks of ammo - the bigger problem Russia has is the logistics of getting it where it needs to be - as I said to some derision earlier in the thread Russia is highly dependant on railways to keep their forces moving forward.
Nobody in the west or Ukraine even wants a peace deal or negotiate anything. Lets just keep flooding Ukraine full of weapons.
We are heading for a complete disaster......And for what? two parts of Eastern Ukraine who mostly identify as Russia peed off because their elected government in 2014 was couped.
Doesn't matter if people in the West want peace or not - Putin has shown no interest in any kind of deal that doesn't involve the complete capitulation of Ukraine and you are deluded if sacrificing Ukraine for world peace would hold. The rest of your post has zero merit until Russia and especially Putin attempt to negotiate in good faith and given all their blatant lies in the UN, etc. it is going to take a lot now for anyone to make any deal with them.
I don't think there is a single instance in history where appeasing a tyrant has ended well and plenty of examples of why it is a very bad idea and any peace it brings is temporary and just building up for a bigger issue in the future.