I kinda thought better of him pre-Ukraine. But now I don't believe a word that Putin says.
Even so, I think we should probably construe his actions as defensive. In his model of the world, the Russian sphere of influence is under attack. And he thinks he is defending it.
Independence, the spread of democracy and the influence of market forces he sees as encroachment. His military actions are an attempt to restore the old order.
Competing views of the world.