Hardly. He may have been the front-runner to win (since he almost beat Ford in '76 and many regretted he didn't after the fact) but Reagan was never the establishment's choice. They didn't trust him and thought he was too aggressive, too divisive and too conservative. Bush I ultimately was the establishment choice which was why he won the Iowa primary. You forget the Nashua, NH 'I am paying for this microphone Mr. Green' moment
Fast Times At Nashua High (an awesome rendition of this classic story)
Long the front-runner for the Republican nomination, Reagan suffered a stunning upset in Iowa at the hands of George H. W. Bush on January 21. Worse for Reagan, his campaign’s internal polling showed the former California governor falling 21 points behind Bush in New Hampshire. If Reagan lost to Bush in New Hampshire, his campaign would be over. Forever. There was no tomorrow. This was it for the Gipper.
I remember sitting with my Mom, watching TV on inauguration day with the split screen showing Reagan being sworn in while the Iranian hostages were being released, and thinking that I had to remember how that felt, being so overwhelmed with pride and happiness and not let myself forget.