I don't think the west called Russia's bluff. Ukraine did.

The bluff was working right up to the 24th of Feb 2022.

Many western analysts expected Russia to win in short order.

Russia expected Ukraine to fold (as did the USA with the offer to flee they gave to Zelenskyy) but instead they called and Russia had to show their cards. which turned out to be a busted flush.

Now it seems everyone knew Russia was a paper tiger for years...