Yes, they're taking the simplistic and painfully short-sighted approach to being an alternative to Obama and the Democrats. They aren't attracting anyone new, they're just being temporarily not as wrong and resting on those laurels. Instead of taking this opportunity to learn from the opposition's mistakes and propel themselves forward for a long-term change in power, they're setting themselves up for even worse backlash after a mediocre comeback. What they should be doing is taking this time to focus on retooling themselves to come out with a bangin' new package that'll attract more than they lost in the last few years. What they are doing is gloating and doing as much as they can to soil the Democrats. We already dislike the Democrats, now make us like the Republicans. Maybe because they've been doing it for so long with no luck that now that it's working they don't even remember what to do next. A negative approach to everything is not going to work long-term, neither side seems to get that. Obama did an ok job in 2008 attracting Republicans but in general both sides rely solely on the oscillating middle ground. That's just my rambling thought on the matter.
The Democrats came into power the same way.
As stated above though, discontent with Obama is nowhere near comparable to discontent of Bush in his second term.
"Discontent of Bush" was fueled by an eight-year steady drumbeat of Democratic criticism. A Dem politician could hardly utter a sentence without saying the words "failed Bush policy."
It stinks, but Republicans should absolutely keep up the attacks on Obama.