So individuals who recently left Russia out of fear for the regime and may be in very vulnerable positions have potentially unexpectedly lost access to their funds until they can sort that out...
Meanwhile, for The Real Russians, business as usual.
Anyone who ran across the border and hoped to get their savings from inside Russia once out were naive (or more likely just in a hurry). This is one of few good use cases for cryptocurrency.
What's wrong with getting savings across border using ATM cash withdrawal while abroad? Limits are quite high for debit cards (and could be customized via client support), ATM commissions in first world countries are more than reasonable (up to 0%).
There are ways to exchange fiat for cryptocurrency without going through a regulated business. Bisq, localcryptos, coordinating over chat and meeting up IRL.
To be more specific: They did not speak out about blocking "the country" but about closing accounts and restricting access for all Russian citizens/residents. They are, however, complying with targeted sanctions of the individuals on the sanction list.
If the scope of the OFAC sanctions forces the exchanges to start blocking Russian passport holders and/or residents, that will change, of course.
It's not theatre, between this, and the trade disruptions, it's currently crippling the Russian domestic economy.
People at different levels of society are, of course, affected differently, but everybody's affected at this point. Even for an aristocrat, drinking moonshine in Krasnodar just doesn't have the same caché as Don Perignon in Paris.
Lyon Feuchtwanger, a Jew and anti-fascist who fled Hitler's Germany, lost all his savings in banks in the US, Canada, Britain and France. Because of the sanctions imposed on him as a German citizen. The only bank he still had money in his account in 1945 was ...German.
Meanwhile, for The Real Russians, business as usual.
This looks like theatre hurting the wrong people.