Bush Sr was also the last 'Tory' candidate. He was not some insane frothing at the mouth nut that would turn off northern suburbanites. The Republican party then was the party of the Chamber of Commerce and good government. Now it is the party of Trump, Tea Party jihadism , government shutdowns and debt defaults. I can see why a NJ suburbanite in 1988 might back Bush Sr, but would be totally disgusted by today's Republican party.
This describes my grandfather. He had been a Republican voting businessman all his life, but then in 1994 the GOP went off the deep end with Gingrich's speakership, a Dole Presidency would give the GOP control of all three branches of government, and he retired in 1996, so he voted for Clinton in the 1996 election. He would go on to be a harsh critic of Dubya. I think the early 90s recession combined with the GOP's takeover of the House in 1994 turned many fiscally conservative blue state voters against the GOP. No longer did the fear of the Democrat-controlled House raising taxes, wages, union strength, etc. keep fiscal conservatives voting Republican.