NATO receives no benefit by standing by and letting Ukraine fall. The next fight would be on NATO soil, against a battle hardened, victory spirited aggressor. Oh, and he would know for a fact his nuclear threat worked like a charm.
Now is the time to stop Russia’s aggression once and for all, nuclear threat or not. Putin has never gotten less crazy. There is zero reason to assume a Ukrainian victory would pacify him. We will win handily against any future conflict. But why choose a harder victory tomorrow with one less ally, when we could have lasting victory today?