Yes, on balance, a terrible choice by Russia to adopt cowboy capitalism, a mistake China witnessed and decided to avoid.Key word "adoption". The Russians had choices and they chose poorly.
Agreed; after 70 years of communism, the Russians fucked up their initial attempt at democracy. 30 years later and they are still fucking it up with President-for-Life Putin.
More importantly to me, it does damage to American stature and reputation when we recommend solutions to other countries which turn out to be terrible advice and risk undermining American moral authority on economics and democracy. As I said, 30 years ago your garden variety Russian held American capitalism and democracy in relatively high esteem. That is no longer the case.