That is one of many things that are at play. But I think it's reductive to say he is a Putin puppet.
It strains my credulity. I wish Democrats hadn't leaned into this so much. He's self-interest driven without a drop of public service in his being. If that leads him to align with Putin he has no moral fiber to be strained by bending in such ways.
As long as he gets bigger, the people who criticize him get hurt and the money flows.