Interesting:
Miri Regev in an interview says that the next Likud leader should be a Sephardi male\female (i.e., her) and if not than a new "Sephardi Likud" should form.
Interesting as it is pretty much what I anticipated for the second realignment we are saying and the third Israeli Party system. (that I think I published here a year ago?)
I don't think I've read it, and I'd be fascinated to. My impression was that the salience of the Ashkenazi/Sephardi split was generally declining over time, with a very large proportion of people now having ancestry from both groups, but it sounds like you don't think this is the case. (And obviously the premier Revisionist party having always had an Ashkenazi leader, but a primarily Sephardic electorate, isn't a state of affairs that can continue forever).
My vague impression is that the first Israeli party system (1948-1977) constituted the dominance of the forces that had won Israel's independence, and the second (1977-arguably 2005, definitely done by 2019) was polarized on issues of relations with the Palestinians. The third (maybe 2019-??) seems primarily polarized on religion-and-state issues, particularly the relationship of the Haredim with the rest of society.
I'd be interested in hearing your take. It distinctly seems to me like Tkuma and Likud are more Sephardic than Yamina and Tikva Chadasha, which are more Ashkenazic, but this is a vague impression more than anything else.
