Well, the opening paragraph would get you 15 years in jail in Russia, but otherwise it's certainly pushing a line that strongly favours the Kremlin. He's hardly he only one, though - there are a number of western commentators with varying degrees of historical closeness to the Russian government who are taking this approach.
He's badly wrong on several counts. Russia is absolutely failing in Ukraine, judged against any of its aims and looking at the performance of the Russian armed forces. Operationally and strategically, it's been a self-inflicted military disaster on a scale I haven't seen before in my adult lifetime. They've absolutely fucked themselves. The only way that's going to change is if Western states stop arming NATO.
It also never seems to occur to these people that it's not our fucking call. If Ukraine wants to carry on fighting for their survival, that's up to them. If states decide it's not in their self-interest to support that, that's their choice (though I'd say they were wrong) but it's grossly paternalistic to suggest that Ukraine doesn't know what's best for itself and so the grown-ups in the West need to decide for them.
Of course, not surprising that Seamus Milne's old paper is publishing this kind of take in the opinion section (his old fiefdom). Milne, who chaired a discussion panel with Putin at the Russian government's Valdai Conference in 2014 - the year Russia illegally occupied Crimea and started a proxy war in the Donbas - and who was responsible for Corbyn's Kremlin-tastic line on the Skripal poisonings, is/was very close to Kath Viner and seems to have been one of the main forces behind her becoming editor. The actual foreign correspondents at the Guardian are excellent, but the non-specialist foreign affairs commentators are generally over-confident and under-informed.