Not quite Cuba bad but, yes, this war will be eventually very bad for Russia.
Russia still has and for decades more will have some very smart people AND huge natural resources. But the losses from this war would add to the already declining population, flight of capital, and flight of people! I honestly don't see how this war will benefit Russia? Playing the second fiddle to the West would look like less worse scenario compared with what this war will do to Russia. As long as Russia had the huge nuclear arsenal, spread over the globe, Russia was assured no direct war would be launched even if Ukraine had become part of NATO.
And if this war gets out of hand, with the use of nukes or foreign resources/people joining Russia then Europe as a whole will suffer far worse than it is suffering already.
And let's not even speak of Ukraine!
Just few months ago, Russia had a growing economy, and a military that was feared around the world. Europe was even moving towards approving nord2, which would have further increase their gas revenues, but then it all changed when Putin had a delusional dream about expanding. Russian's only have themselves to blame for keeping him in power.