People forget that Bill Clinton was actually a very popular president.
This isn't true. Clinton's approvals were under 50% from summer 1994 until the spring of 1996, when it was clear that Dole would be his opponent. Clinton started looking good next to the boring, old man Dole (which, has been alluded to, could potentially be very similar to the 2020 dynamic).
Interestingly enough, the largest margin of Americans since 1996 think the incumbent president is on a path to reelection and Biden has enthusiasm problems.