We live in a world of grey so the 'everything is grey' logic doesn't help.
We have proportionality, we draw lines, we target individuals differently that government than industry than high tech that commodities than consumer services etc..
In my view, we should be doing much more, borderline embargo.
Russian military gains in Ukraine will never, ever be conceded by anything other that either force or 'near collapse' of economic conditions (or overthrow of regime).
Russia can 'put bodies' in Crimea, NW of Kyiv basically to act as targets forever, Kyiv doesn't have the manpower to route them even if they can defend themselves.
Strategically, this implies Russia can merely endure some local pain and make permanent territorial gains.
In 10 years, this war might be like Afghanistan or Iraq, something that '55-75 demographic' watches on the news but otherwise everyone else is busy on TikTok - which is what Putin wants.
He can definitely win the war of attribution because he has a much longer frame view of things, and is willing to pay the cost of 'No Volvos or Starbucks for 25 years'.
Other nations that play the long-tame (like China) are watching.