I'm afraid things are worse than you think.
At present, the views of some countries and regions I see on the Internet are "China < Russia", and Taiwan regards itself as "Taiwan > Ukraine".
Russia's defeat on the battlefield will cause many countries to further despise China, because they believe that China's weapons cannot be more advanced than Russia's
It has been known for a fairly long time that PLA is overall better equipped than RU army, in some sectors by far.
Tactical losses for Russia will make them more open to seeking improvements from China.
And Russia needs a truly multifaceted, 2020s era military, so it can help deter conflict from USA.
I've long thought that the PLA and RU military would benefit from projects using pooled resources similar to how US has made NATO follow them with the F-35. A common design between both militaries, integrating the best from late Soviet cutting edge research and China's new tech, using Russia's strength in resources and workers integrated with China's industrial expertise.
The goal of such projects would ostentibly be to shore up the Russian military into a formidable force in both quality and quantity, while ensuring the final works of the USSR in tech can have their development continued in China, where funding is abundant. It would also help boost the numbers of the PLA.
Some form of strategical "victory" is assured for Russia as long as they mobilize all their forces. But Russian shortcomings on the tactical level will hopefully shatter illusions of Russian military independence and make them pursue collective defense. China likewise should not have any reservations about sharing their latest developments (within reason) with Russia.