Thus regarded, it is an unpalatable but nevertheless useful reminder of some cold facts. The West cannot prevent Russia from exercising considerable influence over Georgia, nor could it, short of precipitating and winning a Third World War, liberate Georgia if Russia invaded and occupied it. Since we are certainly not going to risk any such thing, Russia is going to continue to be a major factor in the affairs of Georgia.
Is this anything the West cannot live with? I can't see why. Nostalgists for the Cold War may try to seize on this development to inflame Russia's relations with the West and revive the whole East-West struggle. But I think Russia is now quite likely to let matters quiet down again, having given a useful reminder to Georgia -- and all the other small neighbors on Russia's vast periphery -- that good behavior will be appreciated.
In reaching this conclusion, I recognize that there is an inescapable element of risk. But if Russia has indeed embarked on a new policy of aggression, there will be plenty of time to recognize that fact and respond accordingly. Meanwhile, I recommend staying cool.