It is also very hard to separate “socialist planning system” from “Russian Empire”. It isn’t like things were going swimmingly in Tsarist Russia and then they reentered a golden age in the 90s.
If anything this socialist system brought them to the height of their power and influence.
Much of that was due to foreign aid and lend-lease from the US.
Of course, we also destroyed Russia and made it an oligarchy by giving them bad advice ("shock therapy") after it collapsed. Like basically everything else (including the existence of Facebook) this is Larry Summers' fault.
"Socialist planning system" can also be - approximately, of course - compared to modern, 2020-s Russia, and modern China (PRC, not Taiwan). The renaissance of economy by the end of 1990-s was significantly assisted by moving towards "free market economy".
I would argue that "socialist planning system" had its successes, but in the long run didn't survive the competition, at least in the case of the USSR.
If anything this socialist system brought them to the height of their power and influence.