I think the options you present have some validity to them, but they are quite polarized opposites.

I think if Putin were to speak, he may highlight the potential for a "great Russian future" due to new partnerships they are working on (mostly China), and some broad-sweeping and obviously false statement that Russia will triumph in the end. He's also been known to highlight weaknesses in Western culture, particularly about social issues and political decisions. Can't remember how bad Russia is doing if you point out weakness somewhere else, right?

But who knows. I think we both agree he truly has nothing valuable to say right now.