Reality – zero geopolitical significance whatsoever. If there was a serious plan to annex those regions, there would be a mass Russian passport giveaway. In reality, getting a Russian passport is hellishly difficult, even for ethnic Russian refugees in Russia. Astoundingly, there are frequent scandals in which paper-pushing bureaucrats attempt to deport former Donbass militiamen back to Ukraine… and the loving embrace of the SBU. Even the wording of Putin’s ukaz is completely cucked: “Documents handed out to Ukrainian citizens and people without citizenship by organs/organizations that exist in specific regions of Donetsk and Lugansk oblasts.”
In reality, this is just a modest step humanitarian step in the Donbass, where more and more people are falling into an “undocumented” state due to the difficulty of getting documents from Ukraine. It is the very least that Russia could do for the people who rose in its support and it is shamefully overdue.