Russia is always "open to negotiations" whenever it needs to buy time. We've seen this in Chechnya and Georgia, so it's not really surprising this stale old ploy is being rolled out again. Putin believes - and may well be right - that European resolve will crumble over the course of the winter as hundreds of thousands of flabby self-indulgent Europeans take to the streets to demand a "negotiated peace" (e.g. leave Russia in possession of whatever it currently has, plus plenty more appeasement). Putin also - and again, probably correctly - believes that the USA is a spent force, riven by internal division stoked by his favorite stooge Trump and with the Republicans dominating the House, aid to Ukraine will be slashed.

Putin believes he simply has to wait out the winter for the tide to turn in his favor. So despite the complete uselessness of his military, he may still get most of what he wants, thanks to Western spinelessness and endless stupidity.