If Cortez Masto loses, Dems probably are losing four senate seats and falling to 46 seats. This means that Dems probably don’t win back the senate until sometime in the 2030s.
If Biden wins in 2024. Maybe it happens in 2026 or 2030 if he loses. That would give Republicans 8 years in the majority.
The Senate hasn't really had a Dominant Party since the 70s and even then, there were enough conservative Democrats to keep it from being a super liberal body. The last and perhaps only time where there was a permanent right-wing majority was the 1920s.