That's how it looks to me as well. It seems that they assumed the Ukrainian military-political apparatus would collapse quickly without much resistance, so they approached the conflict with the idea of using limited force and causing limited damage in order to make the post-war situation more stable and more profitable for themselves. Obviously, that wasn't a very good idea - state collapse is not something that just happens. If they wanted to win quickly, they should have used the maximum amount of force possible. Now they are probably in for another year or two of warfare - maybe longer, if they continue to not take things seriously, and even then, I don't think that Russia will necessarily win. As the war drags on, the Ukrainians will not only get more desperate, but also more competent, and then there are also the Western subsidies too. Frankly, at this point the weak link might actually be the West, rather than Ukraine itself - if the energy crisis can bring an end to Western support, Russia will probably win even without mobilising. That does not seem very likely, though.