Well, more an existential threat to the current regime running the place. I imagine the Russian people would be quite happy to have a regular democracy. Which is one reason Putin isn't very keen on one in Ukraine.
Ukraine never had any glimpse of regular democracy. For 30 years it was just a state when one or the other oligarchical clan was able to install its puppet on the throne to decide who's looting the majority of profits in their pockets.
Right now Zelensky totally usurped power, his political opponents were either killed of forced to flee the country, total mass media control installed, everyone who tried to argue were raided and taken under control or had to flee the country, religion rights are taken away, churches are raided and the right people are getting installed. Borders are crossed and mined, everyone who's trying to flee the country are getting hunted and killed if there's no way to catch them to send in trenches. Russian language, that is the mother tongue for 80% of population and Zelensky himself is forbidden in schools, and any other public services. We have a classic case of nationalists dictatorship being installed and turned the country in the same shit hole that Germany became in the late 1930's with storm troops having population under control by force. That's why Putin isn't very keen on what's going on in Ukraine.