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I think it's a good summary. That's one of the reasons I went to Volgograd, to see the "real" Russia. Petersburg and Moscow are very different, at least in the centres. The Moscow suburbs can be grim too.
Having said that, I was VERY surprised at the level of development in Volgograd, the presence of German banks etc.
Then there's another huge step down outside the city, with people in the villages still leading very old-fashioned lives in wooden cottages.
Anyway, a couple more Volga shots ...