Most hardcore Eurovision fans in Russia are likely to be part of the LGBT community and probably oppose this war. I get that this is inevitable and I guess I support Russia's exclusion for the simple fact that the regime has to be completely isolated. Russia has used Eurovision acts for political purposes too (Polina Gagarina's "A Million Voices" comes to mind). But at the end of the day, I think Putin will only be happy for Russia to "miss out" on the annual gay festival.
Their song in 2014 was about the annexation of Crimea, i'd say that was way worse.