Given the huge anger at the Democrat party leadership, the many octogenarians, or older geriatrics in party leadership positions, and the long-long-long standing Democrat (effective) policy of agitating one group against another without passing any laws helping blue collar workers, there is going to be a large field of Democrat party members trying to run for president in 2028.
It may be just a generational demographic thing, where the nostalgia as party policy, don't make any large changes, keep propping up the same old candidates and same old talking points without actual action or laws passed has caused the party to collapse in the US and in several EU countries.
The nostalgia as policy, both on the right and left depends on elderly politicians doing nothing but having the same debates, same TV appearances and just enough to keep getting re-elected.
The net effect as this elderly generation nostalgia is likely rot in all areas, public, private, corporate, institution, bureaucrat, arts, entertainment, technology (as a whole, not just AI). This rot everywhere is eroding the living standard and quality of life for younger people / people with a decade or more of work life before retirement.
Lots of countries of different political systems, democratic and not so democratic, capitalistic to not so capitalistic are all exhibiting multiple facets of this rot, so there's not a way to blame one party, one leader, one form of government, one economy type.