Russia needs to work with the private sector to buy and crew the ships, and there is only so many ships they can buy and lose before it's not worth the money or hassle for either Russia or their private partners.
It will be worth for Russia as long as the rust buckets they are using for the purpose are cheaper than cable repairs and knock-on effects from whatever downtime, and the uncertainty it brings to the West.
Why wouldn't it work? The oligarchs would certainly be a bit upset if they lost their yachts, mansions, sports teams, and everywhere else they keep their wealth away from Putin.
Works for small and medium-sized private companies. Doesn't work for major nations like Russia.
Doing as you suggest is like writing parking tickets for delivery trucks. They don't care. It's just a cost of doing business.