I am no strategist but I would estimate that right now Russia is generating incredible amounts of hate and fear and turning even those who were kind of indifferent into future enemies. If I naively estimate the probability of this being some rational grand strategy vs probability of this being a move of an old dictator possessed by his ego and some imagined grievances behaving in an irrational way that will damage Russia... I am leaning towards the later one. Of course this is just one example and there are certainly other scenarios/explanations.
I wouldn't make this too much about Putin as a person. Russia has had plenty of leaders with similar ambitions, both in Soviet times and in the empire before it. If leaders like Putin persistently arise in Russia, there must be deeper institutional issues behind them.