Reaganism was a hiccup, dependent upon Reagan himself. It was a personal political movement, not a true philosophy.
It also never would have worked had the country not been in such disastrous shape - the hostages in Iran, the Soviets on the march, stagflation at home. Reaganism was a doctrine that people were willing to listen to only when times got desperate. We can be thankful they are not now, but that means that significant numbers of people shift back to default mode, to the politics of getting stuff from the government.