This was high chess game. Biden called putin bluff and united nato and their allies to put pressure on putin. He goofed big time. Biden leveled it with Americans letting them know that war was the last option but if war is forced on him he knows the cost.
Putin is trying to run away from his own mess at home. Covid has decimated his economy and any trust Russians had on him keeping the lights on in Russia. He know has to go full dictatorial to avoid summer of discontent in Russia
He has now to eat up the mobilization cost of over 100k troops. All America did was threaten him with embargo on gas sales.
The difference of someone experienced in diplomacy is they say less and achieve more. If this was Trump he would have been all over barking like a rabid dog