It's simplistic to say, but it either works, or it doesn't.
From the position of the chief executive, it's a roll of the dice politically. If nothing happens, and Russia succeeds in the Ukraine, it's a fail & Biden will get all of the heat for the gas price spike & inability to change the outcome.
If the economic pressure works & the Ukraine is able to maintain its independence, it will be a huge win for Biden & he'll reap the benefits politically, and most will say that the temporary price spike was worth it.