We're setting the stage for a Biden blowout this November.
Republicans are simply not doing what they need to do to win in November.
I'd rather be careful with such predictions, even if polls are flawed or it's just too early. I agree that under normal circumstances this would be a blowout. Not only is Biden having a huge cash advantage and running a better campaign apparatus, he's also running on a strong economy, no direct US involvement in war, dropping crime and major domestic accomplishments and against a dude with 90 felony charges that already lost before.
However, we live in times of hyper partisanship and polarization. And the problem is just the MAGA cult, which is maybe a third of the electorate, it's also low propsenity "normies" beleiving everything is going to hell and Trump will somehow make higher prices disappear. The MSM works overtime to feed this narrative as they have their own, economically driven agenda.