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Yes, exactly this. Whereas previously this would be all consuming and frightening with very real consequences for the country, now it's just a side show. Who really cares who becomes their leader in November. They'll probably have four or five new ones before the next election.
And we don't really need to think about the Tories other than as light entertainment for at least the next 4 years.
But it's all completely ignorable - not front page, not of consequence to your life. You can let it pass you by, or check in every so often and laugh at how important they think it still is.