I think the situation is actually terrifying and I think it is naive to think it won't impact the entire world. We have a situation now where Putin has issued extremely chilling threats to the West not to intervene. So what do we do?
Putin isn't interested in sanctions... he has decided he's doing this whatever the cost and that is a terrifying mindset. He is not someone to be reasoned with in a normal rational way - this is what people need to understand. What makes sense to most people isn't how his mind works. He has a vision for Russia/USSR and that's his focus - whether or not it is realistic or not - and his actions now have put him on a trajectory of he either goes for it 100% and delivers on his vision and promises - or drops it and looks like an utter failure in front of his own nation - which is not even an option for someone like him.
So we deploy sanctions which are unlikely to have any effect... so then what? The choice is not pleasant and this is what concerns me.
At this point military is positioned to defend the surrounding NATO countries and to provide assistance to Ukraine - but without physically going in. The principle is that they don't get involved unless Putin goes for a NATO country.
The difficulty there is that assuming Putin overwhelms and takes Ukraine - he will then be emboldened and be of the view that his threats of consequences to the West (ie Nukes) has worked - so he can use that threat again to go further, which is a dangerous place for him to be because his next target may well be a NATO country - and then we are in WW3.
This is my major concern - that the more he is allowed to do, the more emboldened and dangerous he becomes. He may well stop at Ukraine but I'm not convinced - history shows that dictators like this never just stop or limit their ambitions - and the more they are allowed to succeed, the bolder they become. Hitler was given too much latitude - given the benefit of the doubt - and look what happened. A repeat of the same mistakes.
So at this point - unless there is some sanction I don't know about that will change Putin's mind (unlikely) I do not see this ending well. It's almost a case of intervene now - or later - but the second the military from NATO countries gets involved - we're effectively in a World War scenario. Absolutely terrifying state of affairs right now because whatever way the West (and indeed the rest of the world) deals with this, it is not going to end well.
I'm not generally someone who gets all worried about international politics and what not - or worries about overseas conflict in the sense of it directly impacting the UK - but this feels different and I have a bad gut feeling about it.