That's not really true through. His rating is at the all-time low for him and he had barely managed to get the change in the constitution over the line, even though he had used all of his resources and election manipulations.
Levada-center, the biggest non-government sociological research organisation, on the question "Do you trust Putin?" only got 23% of positive responses. In comparison, in November of 2017 that number was at 59%. On the question "Do you approve Putin's actions as a president" there were 60% of positive responses and 33% of negative responses (that's quite a low number of people that abstained btw) – in comparison, 5 years ago, In July of 2015, his approval rating was 87% (an all-time high for him).
WCIOM, the government organisation that does sociological research as well, had made a bit of a mess this spring. Usually, the questions that sociological research organisation ask people don't change – so that you can see the results over the years, compare them and see the trend. So, in May they had their usual "Which politician do you trust?" open question and Putin had scored 30,5%... it wasn't very flattering, so they had changed the question entirely, making it "Do you trust or do you not trust Vladimir Putin?" (surprise-surprise, the new question had elevated his trust rating to 72,3%. To put those 30,5% in context, his rating by the same methodic was above 40% in the summer of 2019 and over 59% in 2017.
That's a very simplistic point of view that Putin tries to implement, but it's became a bit of a laughing point at the moment. It's always "you don't want to get back to the 90's, do you?" with him. Don't get me wrong, the 90's were horrible, but the country didn't have the money, the whole political and social system was a mess because USSR had just disappeared, the economy was in crisis... don't get me started on the privatisation or on the organised crime – the current oligarchy and most of Putin's close circle either come from those circles or had gained a lot of money and influence by working in police/FSB and directly dealing with that organised crime.
There's also a simple reason behind Russia's ability to recover from the 90's:
I know what no one can read in Russian there, but this is the graphic that shows oil price from 1970's to 2015. This graphic miraculously aligns with the graphic of Russian's economical growth (and regress). The issue is, while Russia had gained trillions of dollars in oil export year after year, nothing actually went back to the economy in an order to create a sustainable plan for when the oil price is (inevitably) going down... So suddenly, after 20 years of Putin at power, we're pretty much back when we're started and he has to increase the pension age because government can't sustain ageing people anymore.
And really, when you rule the country for 20 years that coincide with the best possible time to rebuild and improve your country's economy, you shouldn't leave it in the position where everything can fall back into the way it was in the 90's if you walk away. It's not something that shows your incredible importance to the country – it's something that shows your complete and utter incompetence at this job.