It's not doing great, but it's not really losing, either.
It is successfully using its nuclear arsenal to deter aid for the country it's invading. A lot of materiel is sent, but its uses are limited. A massive attack on the capital would be entirely justified, and is well within their capability, but is forbidden for fear of escalating to nuclear weapons.
Because of that, they are continuing to prosecute the war, and making minor gains. They cannot continue that forever, but in another month, their target is likely to be hamstrung even further. They may yet win, or negotiate a peace that they can pass off as a win (which would include Ukraine never joining NATO).
People may not have that immediate fear of nuclear war that characterized the 50s through the 80s. But the threat is in play, and it's being kept out of daily discourse only because the US refuses to challenge it.