Sounds reasonable. My Tory friends and neighbours are but a very small sample, but they all say they sat on their hands and remain embarrassed by the events of the last decade.
My constituency, Esher and Walton, is a very wealthy one and has always had a large Tory majority. Raab started with 18k majority (2010), then 28k majority (2015) , then 23k majority (2017) before dropping to a 2.7k majority in 2019. Something started to happen between 2015 and 2019 which saw the Conservatives become far more unpopular, even with those with money.
Raab saw the writing on the wall and jumped before he could be ritually humiliated. The Tories didn't even bother defending the seat in 2024, putting forth a local young chinless wonder called John Cope. Their office was so piss poor that they sent out election material to 17 year olds who weren't eligible to vote (and a Christmas card after the election as well!).