What exactly do you mean by 'collapse'? Because there are a lot of people who might find the word 'collapse' adequate for the party's current state.
If you mean collapse as in the party might disappear - then just stop there. Questions you might have whose hypothetical outcome is the party ceasing to exist should by default be answered 'won't happen,' unless you have a viable and plausible theory already. This is because parties are extremely durable, and have survived much worse than the Democratic Party's current predicament.
I definitely don't think that the Republican brand will become universally accepted or that their party will become truly popular in the near future but eventually in this polarized environment, if the Democrats keep losing, eventually they will just give up, right?
A lot of Democrats just before the election in 2006 were suggesting that if they couldn't even win the House, there would simply be more very liberal Congresscritters going the way of Bernie and becoming Independent or Green. I even heard Charlie Cook say something to the effect that if they didn't win the Senate, they were going to fire a bunch of people and if they didn't win the House, they would "go the way of the whigs". In effect, I could see that if the Democrats lose both 2018 and 2020, and especially if the Republicans are able to pass their legislative and judicial agenda and still aren't very popular, that there will be a lot of Independents running in 2022 and Dems might endorse an Independent for President in 2024.
I was hearing a lot of TEA Party folks saying that if their wins were kept to a minimum in 2010 that there was "going to be a revolution".