And so far…Russia has been able to replace their equipment and keep feeding in men.
And every day they’re there, the Ukraine isn’t a whole country.

I would add to your reply that they were able to replace their equipment for a while. With older, obsolete equipment from the 50s, 60s, and 70s. That has almost played out now. Their boneyards are almost empty. They're going to have to either buy or make more equipment, and -so far- they aren't able to do that in the numbers required (otherwise, they would have already). Though, the resources to rehab all that ancient equipment could be reassigned to make new stuff, but it still isn't enough. They already are having some labor shortages, and are buying shells from DPRK.

Otherwise, you're pretty much on-the-money about this.

If the West keeps supplying Ukraine, Russia will eventually choose to leave - but if the West stops supplying Ukraine, Russia would be able to destroy their army and possibly achieve their goals.

Yep. There is another option, and that is Ukraine giving up. But that is highly unlikely. Support for opposing Russia is down a bit in Ukraine. Some of the people are willing to accept a negotiated truce. However, the terms Putin is demanding -so far- are mostly unacceptable to them. If we want to be thorough, we do have to mention this.