Agreed, time is on the Russian side. A ceasefire, esp until Trump gets reelected, or doesn’t, and causes a civil war, gives him space to regroup and rearm with Indian and Chinese gear.
Either way the US will be chaotic after the election and funding a foreign war may not be a thing, esp. if there is a domestic insurgency. And Europe still doesn’t have what it takes, and probably won’t, to meet any needs.