The OP is mistaken Soviet mil aviation for Russian mil aviation. Similar is theory. Much different in reality.
If Russia had the Warpact and CIS funneling development funds into their war machine it would be very threatening. As it is now they rely on China and India more than its old Soviet allies. It relies on NGO’s more to battle the West than its military. It even tried to manipulate the oil market, but the Saudis screwed them over.
Not enough allies, time or money.