You're wrong and here's why.
Why doesn't Russia spend $700 billion on defense like this US does? Taxes. The US ability to raise revenue to pay for things - defense spending not even being nearly the biggest thing - comes from US wealth. From US wealth, the Federal Government cause raise a lot of money to pay for things.
By contrast Russia, a middle income country, does not have the tax base to pay for something as lavish as the US defense budget. It has to extract revenue out of a $2 trillion economy while the US extracts it out of a $17 trillion.
Now during the Soviet Union, there were no income taxes in the traditional sense and the state set wages and costs for everything. This allowed the Soviet Union to grow it's military power far beyond what would have been possible were it a capitalist country because unlike the US which paying for every Sub almost a customer, with the expectation that the contractor would be operating at a profit, the Soviet Union was basically cradle-to-the-grave making everything itself. This kept things cheap, especially with labor costs so low.
Now fast foward to the 1990s. The Russian Federation now has a Western-style taxation system. Government revenues are extracted from the economy along Western lines. Large sections of the defense industrial complex are privatized and now must operate at a profit (still true, even though some were renationalized and unified, such as United Aircraft). This means that those rock-bottom costs the Soviets used to support 30,000 warheads and a huge navy no longer existed. Everything had to be paid for, just like in the West.
Russia could not afford it. It STILL can't afford it. Its inheritence from the Soviet Union, which didn't have to pay for cost of ownership, suddenly got tremendously expensive.
You may call it nonsense. But Russian leaders don't. They never have. Not for 25 years. Take something like the Angara space launch vehicle. Angara was envisioned in the late 1980s / early 1990s. It flew for the first time last year, delayed over 20 years. It is basically a Russian Atlas V (a US rocket) analog. It uses similar engines and similar design principles. GOOD DESIGNS. But Atlas V (along with Delta IV) were designed in the 1980s and 1990s to replace dozens of different US rockets that were manufactured since the dawn of the space age, to reduce costs for government space launch by reducing the number of supported platforms. This is ALSO the driving goal behind Angara. Angara was envisioned to use a common core to replace all Soyuz and all Proton rockets one day. Because supporting just Angara will allow money to be reallocated to paying for other things that it flies, rather than supporting multiple, duplicate systems.
Angara
Borei
Bulava
S-300/S-400
Armata
All of these represent the exact same idea - doing what the US did in the 1990s when it rapidly retired thousands of legacy aircraft, missiles, hundreds of ships and weapons, even if, as was the case with many of them, they could have served for another 20 years. Because paying for 4 destroyer classes (for example) in a lower threat environment, is undesirable when you have the opportunity to pay for one.
The US was eager to cut nuclear arms in the 1990s and 2000s, to shake itself loose of warheads and rockets dating to the 1960s and replace it with modern designs in a small number of economical families. That task is largely complete.
Russia, which is poorer, was less able to do that as the US was doing it, and remains in a position where its finances make that even more desirable.
Yes, the Rocket Forces got money in the 1990s and 2000s. But it wasn't close to enough to support it's Soviet inheritance, which was why Russia was so eager to cut. And today, it's not enough to both support the inheritance AND modernize.
The US should not engage in any nuclear deals with Russia (and it wont... it wont pass congress) because they need it a hell of a lot more than we do. Russia has to cut, to pay for modernization. We do not.