Citation needed for "that is nonsense peddled by the EU establishment".
I'm living in europe and listen to many political news, both domesstic and abroad. And I never heard anyone saying that they actually want to invade "europe", at least not as a hole.
There are analyzers --- but not at EU "establishment" level, whatever that might be --- that claim that Russia, after 4+ year long regeneration phase after the Ukraine war might invade parts of Estonia. Already they started with some hybrid stuff there, with some new "people's republic Narva" drawn out of a magic hat.
Also, there is no need to "reboot" EU manufacturing. For example, Germany had the highest export numbers it ever had in June, 139 billion euro in just one month.
Other than that: Russia is estimated to have lost 1.5 million people already in this "3 day special military operation". No one in his right mind assumes that they can start another thing like now.
They however have gained LOTS of skills on what works and works not, military. E.g. the trickle-in strategies, glide bombs, drone warfare works. A navy without support, tanks and even airspace superiority attempts don't work.
What e.g. german military generals say is: Russia is already in a hybrid conflict (they didn't use "war" as word) with Germany. One can see this by attempts to destabilize the society, by very high level of espionage (said to be higher than during cold war times), to drone reconnaissance jobs over military AND civil infrastructures (logistics, power, railway etc). And by the odd attack on things here, like people or weapon manufacturers.