Johnson would be the GOP's second Goldwater; he would be defeated in a massive landslide, but he could potentially be the harbinger for a later libertarian movement.
Except this isn't 1964, and Gary Johnson is far less radical than Goldwater.
I'd say repealing drug laws and pursuing an anti-war, anti-interventionist foreign policy is pretty radical.
The first part is pretty radical, the second part isn't (Bush Jr.'s foreign policy platform in 2000 consisted of opposition to interventionism, war, and nation-building).