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The destruction of their economy for the next 2 decades, their military reputation (they really thought they were world number 2 lol), their defence industry sales mostly likely for the next half a century, their nationalistic pride, their captured territory since 2014 and their 'national security' since now they have a extra 2400 miles of NATO border to defend on their western front. And I would not be at all surprised if they eventually lose their seat on the UN security council. Oh and more than half of their energy sales for all time. But apart from that they'll lose nothing lol
That could all happen and Russia still kills a huge bulk of the Ukrainian manpower. As has been said before, quantity is a quality all it's own.
According to some interviews I've been seeing with Ukrainians on the front fighting, a lot of them are dying defending Bahmut. And the Russians are starting to fight better.
We have to take the media reports from our side with a grain of salt too.
Supposedly, Ukraine has about 150K men left. That's several times smaller than the rumored amount of Russians about to be mobilized. Even if they're poorly trained, that's a lot more manpower.