You are right that the effect on workforce won't be as bad. But the political effects will likely be huge: for now Russians can pretend there's no war, because

You are right that the effect on workforce won't be as bad. But the political effects will likely be huge: for now Russians can pretend there's no war, because it's not them who's dying, it's "some ethnic minorities". One can't avoid drawing parallels between what's happening now and what happened after Russia's defeat in WW1.