However, Putin has a point: extending NATO membership to Ukraine is an overtly hostile act by the US and NATO member states. Putin no more wants NATO bases in the Ukraine than the US would want Chinese or Russian military bases in Canada or Mexico.
But Russia is not and never was going to launch a full-scale invasion of Ukraine. It would destroy Russia. Trying to do this in Afghanistan, a substantially smaller and less developed country, played a significant factor in the collapse of the Soviet Union.
Russia wants a buffer between it and NATO and access to the Black Sea. That's it.