One of my mother's former co-workers still lives in Leningrad (St. Petersburg now)
He called her on her birthday and described the situation in Leningrad this way. Many of the large factories have been sold piece by piece to small time businessmen that turned the space into shops to provide various services. Of course, this means that production of goods decreased by a large amount. Most people don't have cars because they can't afford them and the high price of gas.
Common people don't travel anywhere too much because it is expensive and there is a high chance someone can rob you. Space in the city gets cleared out and new buildings are being built and sold to people that have money. Most people that had professional jobs in Soviet Union had to scramble and take on whatever jobs they could find. Older people on pensions barely have enough to eat.
Well, maybe he is not 100% correct but I fail to see how this is better than Soviet Union was.