It's mostly a response to US stealth and anti-missile tech. Russia has been having trouble keeping up with US "First Strike" capability. They are afraid that we will mark and destroy their nuclear launch facilities all at once using stealth assets and stop them from retaliating by shooting down any that they manage to launch in time with ABS systems. This would essentially neuter them as a nuclear power in an instant.
It doesn't matter if we WOULD do such a thing. But the fact that maybe we can, prompts the development of these nearly unlimited range cruise missiles that we wouldn't be able to shoot down in time to stop a retaliation. In addition having your nukes literally hovering around your enemy is a great intimidation tactic.
The nightmare for any major power is being open to nuclear strike without the capability to retaliate.