Maybe I've just been worn down by years of Trump, but I think the Democrats here are a little optimistic of how this would turn out for them. This would be my guess for a generic 2028 election:
I don’t mean to be rude but this is actually delusional.
Why? My point is just that creating a third party could split the "I support democracy" vote just as much as the "right of center" vote, and if recent elections tell us anything, it's that the "I support democracy" vote is just barely enough to win an election and can't afford any splitters.
If the republican gets even just 5% in the swing states then the Trumpist is doomed.