Clearly they are more "neutral", than say Estonia, Latvia and Lithuania - all former Soviet client states that are now NATO members.
I do honestly suspect this is about delusions of historical grandeur. Ukraine is after all the historical home of Kievan' Rus (with whom most peoples in the region claim historical antecedence). In its "golden age" Vladimir the Great (Volodymir I, Prince of Novgorod) united the Rus peoples under his reign.
When thinking about neutrality, it's worth comparing the Ukraine-Russia relationship to that of Vietnam-China, another case of dealing with an aggressive big neighbor. Despite having many disputes with China on the sea, as well as the shadow of the 1979 invasion still looming, Vietnam has a clear "four-nos" policy, which means no military alliance, no affiliation with one country to counteract the other, no foreign military base in the Vietnamese territory to act against other countries, and no force or threatening to use force in international relations.
I do honestly suspect this is about delusions of historical grandeur. Ukraine is after all the historical home of Kievan' Rus (with whom most peoples in the region claim historical antecedence). In its "golden age" Vladimir the Great (Volodymir I, Prince of Novgorod) united the Rus peoples under his reign.