Ukraine is getting stronger
I've seen this line repeated ad nauseam since the war started. Can't count how many predictions of a dramatic reversal fell flat. We get them at least twice a year.
Ukraine can trade small amounts of land to allow Russia to grind its self down
Russia is never going to "run out" of manpower or materials. It's the world's largest contiguous landmass, home to 150M people, and a trillion dollar economy that is second only to the US in arms manufacturing. This has always been a question of political capital. At what point does the United Russia political block sour on the war, in the same way Americans soured on Iraq and Afghanistan.
The problem with fascist states is that they can actually persist and thrive on an endless conflict. Americans wrote the textbook on the Forever War. But we've seen Turkiye and Israel and Russia all crib generously from it.