The short term: Putin can take Ukraine.
The long term: I don't that he can hold it, after it was a democracy for so long, and THAT feeling will spread. Also, I think, judging from what I'm seeing on the news, he has finally pushed his people too far, and begun the end to his rule. Kill the USSR twice.

I also hope Zalensky can get to safety, although his fate may be part of the story, too.

One thing this does show, and I've heard it said about the USA enough: the people are great, but the governments suck. (Disclaimer: some of our people suck, too.)