I concur with your analysis that Western inaction will inevitably lead to large-scale confrontation that will include the use, by Russia, of nuclear weapons. Until the West reaches that point - if it ever does, which is highly uncertain - Putin will continue to use Western fear to paralyze all meaningful opposition. Economic sanctions are meaningless to him, because he is the only one whose decisions count. The suffering of ordinary Russians is irrelevant.
Thus, just as in the 1930s, Western inability to face up to reality means a very, very dangerous war lies ahead. Had the West sent troops and equipment to Ukraine while Putin was building his forces on three sides of that unfortunate country, the invasion would not have happened. As it is, the Baltic states are obviously next and so...