Sigh of relief
This is great news for us Europeans who have had to suffer from nutty dictators' peen-extending excercises for ages. It has been looking like it might start again, as olympics and sports in general weren't doing it for the Russians. We now need to pretend to compete and lose, and make as if we are impressed while Putin engages in this latest sand castle building competition. Just drag it out as long as possible.
Might also pretend to start our own project that will surely catch their attention, one that Russians will win for sure, like building a long railway line or drinking the most vodka. Anything that they can feel good about that doesn't involve making like Attila the Hun on Europe.