It’s fundamentally whataboutism. “Of course we don’t live up to our stated values, but you don’t either.” The message is “you’re no more moral or driven by values than we are. We’re all venal shits, and any claim to a higher authority or values is just as much a lie.”
45 has come the closest of any western leader to prove this point. Maybe you can’t blame Putin for being a shark, but you can blame Trump for dressing the US like a baby seal.