I'm not so sure it is ludicrous - the first half of their tenure was defined by demanding sacrifices (from the youth especially) in return for 15 years of zero economic growth and falling living standards (GDP per capita still lower than in 2007) and the latter half of their tenure was marked by endless scandal, obvious incompetence and self-inflicted political chaos. It is a recipe for political oblivion.
I know people said similar things after 1997 but the situation isn't remotely comparable. There were winners and losers under Thatcherism and the core Tory vote (confined now to the over 70s) remains those who were winners of Thatcherism by benefiting from getting on the housing market. There have been no real winners of this Tory era, which is primarily defined by a significant national decline which has now became stark enough to enter public consciousness. Tory support in 1997 was also nowhere near as bad as it is today - polling 18% overall and in single figures amongst the under 50s.
Support for Rishi Sunak’s party is at its lowest level since Liz Truss’s final days as prime minister
www.independent.co.uk
Some polls have put Tory support amongst the 18-24 age group on a single percentile.
When it comes to overall voting intention, the survey puts Labour on 45% of the vote nationally among all age brackets, with the Tories falling back to 24%.
leftfootforward.org
Their main mistake was complacency in thinking that young voters will become Conservative as they get older, and in believing that austerity will yield any sort of long term economic benefit to justify the sacrifices demanded. But this hasn't happened as fewer have got on the property market and the economy has stagnated on top of failing public services. Therefore the Tory brand is now worse than the nasty party of 1997, it is now the nasty, chaotic and incompetent party. Being seen as callous but economically competent is one thing, but being seen as both callous and useless is another thing entirely.
There's a historic collapse of the Tory Party coming. Millenials and Gen Z are poisoned against them for life, this isn't going to change, and Tory loyalists are literally dying out.
Their main legacy other than decline amd chaos is Brexit, which is divisive but may inspire some tribal loyalty amongst some; however Reform UK has a better claim to Brexit than the Tories do.
There's also the issue of Senior Tories abandoning the Party and a lack of fresh blood to replace them. Such a lack of fresh blood compounds the problem as they lack anyone with the insight to reinvent the moribund party.
Could honestly see Reform UK being the main right wing party by the election after next, aided by mass defections from Tories fleeing the sinking ship. There's only 5% difference between them.