I think it reduces the risk of a nuclear war. The thing to understand about Russia is that all their "red lines" are empty talk, and what they really respect is force. Ukraine appeared weak to Putin, and that's why he invaded. Only way to peacefully coexist with Russia is by either becoming their puppet, or having enough strength to make an invasion seem obviously bad idea.

IMO the best way to prevent a nuclear war with Russia would be supplying all its neighbours with big pile of nuclear weapons. Then they would have nowhere to invade without risking their own destruction.