Nope, its over. Once the party becomes tainted at this level, theres no hope. You can't convince a society that has been bombarded by entitlements that a small government is good for them, especially when a huge majority of them are hitting retirement age and expecting SS to kick in.
History says otherwise...we were much more down in the dumps in the mid 70s, with a disgraced, resigned President, a RINO head of the party (Ford), Congressional minorities depressed and with no hope...and then came Ronaldus Magnus.
The conservatives who had hoped 15 years earlier with Barry Goldwater finally were heard in the party.
It is NOT too late; we are the people who make America work, who make things happen, and who can make the Republican party anew. We can, and we must.
Like our soldiers say, failure is not an option.