There is an enormous difference between being able to project power and deciding to do so. Russia could have brought Ukraine to heel within a few days at most if it had decided to go the way the U.S. did in Japan- a few nukes would have done the trick. Russia's leadership wisely refrained from doing so. There are different forms of power, and Russia has decided up until now that the best course of action is to stick to conventional weaponry. Near the start of the war, they were particularly cautious about avoiding civilian infrastructure as well. The bottom line here is that Russia understands that sometimes, it's best to be patient. There's a line in a verse I once heard that I think is quite good:
"The enemy is not to be sought, lest one find oneself surrounded". Russia is applying this, the United States is not. Which is why the U.S. now has enemies pretty much everywhere, while Russia's enemies are pretty much confined to NATO countries.