For someone that demanded the 2014 borders for the past few years, this is a concession. Odds are that Putin wants all of Ukraine even if Russia has to stop where they are for a few years and repeat the 2014 playbook. It's very surprising Russia hasn't been able to push past the current positions. However, they are close to taking certain important cities and the highways.
Another possibility is if Ukraine has elections and chooses another pro Russian president. Then you would have the largest army in Europe equipped with Western weapons potentially switch sides and on to other former USSR states.
Can they make Google list Canada as a state along with Greenland, then we won't have to invade???