This is my concern as well. Putin is brilliant, savvy and, usually, tactical. But it's very hard to figure this one out. US State department says they have intelligence that the plan was a 3 phase invasion, with negotiations in between, so that Ukraine could surrender.
The idea he might have had was that "While we intend to take your eastern lands, Ukraine, we don't want to obliterate you, so here's your chance to save yourselves. We are, after all, cousins." So a kind of intra-family feud, in which the powerful branch of the family eventually squeezes the weaker branch into submission. It's happened many times in history.
But I do believe he is very isolated, may not even be watching anything about the invasion, and only speaks with a handful of elder generals (who have been lying to him because they fear him).
He looks puffy and his voice was weak at times in his short address to his minions. Apparently his hour long history lecture went better. One of his former aides says he spent the last two years carefully studying Russian history, every treaty, every bit of history involving Crimea (Russia claimed it for a very long time and Ukraine agreed to certain things regarding it when Ukraine was created, and in 2014, Putin himself declared that Ukraine wasn't doing what it said it would way back in 1945 or whatever).
So he's obsessed, out of touch, and, IMO, has some kind of craziness that comes with a certain type of person getting too much power. Is he also in the throes of Parkinson's? Dementia? Long COVID? No one knows.