There is no such thing as Babylon the Great today. It's a label from two thousand years ago, part of the propaganda imagery used then to keep the gullible in thrall to their leaders.
Modern religion as interpreted by the GB will not "fall" collectively because it has a large and diffused political power base. New religions will keep forming and old religions dying out. Therefore this ploy of looking out for the gross removal of Religion a.k.a. "false religion", will keep the JW suckers hanging on indefinitely--or at least until they wake up from the JW delusion. This surely is the reason for the announcement?
Regarding Russia, note how the Watchtower could have pointed to the former communist state to demonstrate how Babylon was falling back when Stalin at the fifteenth annual Soviet Congress in 1928 ramped up the anti religious rhetoric . Now however the so called 'democratic' Russia permits the presence of its national Orthodox Church and most other sects. The GB didn't say in 1991, "look Babylon is rising" did they?
The GB are the proprietors and beneficiaries of a religious scam.