That’s what we assume will work when we apply sanctions on Russia.
If it was less serious, if it wasn’t in our faces that innocent people were dying, if it was something “far away” and “complicated” and not so one-sided. It would work.
Some (perhaps most) people are extremely selfish, even when it’s detrimental to themselves; you see it all the time with people not leaving enough space to collect luggage at the baggage claim at the airport, meaning everyone can’t see their bags and they can’t retrieve them without a kerfuffle anyway, or in the same way that everyone rushes to get off of a plane even when they prevent someone else from leaving who then will also be unable to leave causing an awkward deadlock.
People are gloriously selfish, and if you hit them in a place that affects them directly: they will turn.
The only reason we’re not is because it’s too close and too devastating for us to turn our eyes away.