I think that may have been more true of the rank-and-file people attracted to the LP and to libertarianism in general. I think that many hung around for a few years in waiting for something meaningful to happen just to walk away embarrassed at the antics of some prominent oddballs.
Not being personally aware of anything meaningful happening in the early days of the Libertarian Party (no internet in the '70s, remember?), I'd like you to expand on your premise if you would.
I was not implying that "many" Republicans jumped ship and joined the LP after Nixon lit the fuse. Only that it was mainly disaffected Republicans who started the Libertarian Party. What happened later is another story, one which properly belongs on another thread.