Whichever party successfully marries conservative cultural identity with socialized medicine, bank regulation, CEO salary regulation, and a platform of labor/manufacturing revitalization will win in a monumental landslide for decades... We're talking on the level of the Democrats from 1932-53 or the Republicans from 1968-1992.
There is some truth to this. There was a point in the summer of 2017 when Trump was getting ready to call for raising the top tax bracket and make peace with Obamacare, but then he backed off at the last minute. Had he gone through with that and later embraced an earlier and stricter COVID response (as many of the same populist voices called for), it would have been a realignment and he easily wins reelection.