One of the reasons why WWI started was that Germany felt that it was only up to 1916 that they could have a war with Russia while there was still a window of possibility of them winning. They did overrate the pace of Russia's military reforms post 1908 but the basic reasoning was sound (as they discovered in 1941-5 OTL). So the German army and people would be profoundly unenthusiastic about a rematch following 25 years of Russian economic and military development.
The political leaders of the Russian Republic were all keen on economic development just differing on how to best achieve this. Denekin, Wrangel, Boldyrev, Kappel, Kornilov, Kolchak, Alexiev, Yudenich et al were all pro military and communications/logistics modernisation so, even in a worst case scenario of a military dictatorship, industrialisation would continue.
Now Russia was hurt and exhausted by WWI and there was a lot of infrastructure damage in the West-no argument from me on that. But as far as the industrial economy was concerned (mainly in Petrograd, Kiev, Moscow and Tsarityn at that point), it took the Civil War and War Communism to do serious damage - and mainly War Communism, the Civil War didn't really hit the streets of the main industrial cities. No Civil War and no War Communism, some territorial gains at Turkey's expense and a share in German reparations? Along with no murder, imprisonment or mass migration of scientists, industrialists, managers and engineers (including Zworykin, Seversky and Sikorsky) Russia would have been roughly where she was economically in 1933 ten years earlier (so even with a slower rate of industrialisation than under Stalin (which I personally doubt) they would still outstrip him due to their ten or fifteen years head start). Not to mention being more integrated in the world economy from 1917 onwards (no defaulted debts or lack of diplomatic recognition so they could buy in as well as build). By 1938/39 Russia would be at least as much, and probably more, industrialised (granted with more of their industry this side of the Urals) than OTL. They would also have a more modern and competently led army and a much better airforce with no purges (and likely some post war experience in Finland, Poland, the Baltics, Middle East and China to keep them sharp too) and very unlikely that Germany would have the inclination to take them on. Unlikely to be a lot of German industrialists bankrolling a Hitler hostile to their greatest trading partner in 1932/33 either. Nor would Britain, France or the USA be quite as accommodating to Germany as OTL if Hitler did become a serious political factor -Russia would be a massive trading partner for them too.
And finally I don't think Russia would have been as keen on the Polish corridor as the Western powers if present at Versailles. And for some reason that was the territorial loss that really rankled with the Germans. Even the Communists opposed it OTL.