We have some nice posts (1, 2 and likely more) illustrating multicollinearity geometrically. Now, ridge regression ($L_2$ regularization) is known to be a remedy of multicollinearity. What is the geometric intuition for that?
We have a nice answer 3 that illustrates the geometry of the objective function and shows how a ridge under OLS becomes a peak under ridge regression. In addition to that, would it be possible to illustrate the geometry of fitting a plane in a 3D space (as in 1) with OLS vs. ridge when $X_1$ and $X_2$ are (almost) collinear? Or perhaps use yet another geometric perspective that provides intuition?