No matter how smug they are at the moment, the Labour party is never getting back into power again. If they couldn't win the election with a p*ss poor campaign from the Tories, the youth vote rising, and UKIP not standing everywhere then they have no chance.
I completely agree - look at his number of seats compared to other labour parties in the past - similar to Brown in 2010, when Brown stepped down. Similar to Kinnock in 1992. Almost identical to Callaghan in 1979.
Vota share can almost be discounted as an irrelevance - people were fed up with fringe parties. This is evident in the loss of the vote share from every other political party - SNP, LD, UKIP - all lost the 15 or so percentage points that went to the Tories and Labour - a Labour leader becoming more popular and then conservatives forming a minority government isn't anything massively new. Brexit was something not seen before in British politics - rejecting everything that has been known for the last 30 years. Corbyn can hardly say he has done that - he increased the vote share from an awful campaign in 2015 to levels that have been seen before - when Labour leaders conceded defeat and stepped down - yes the increase between 2015 and 2017 is large - but so was the increase in vote share seen by the Tories.
They will do if the Tories don't shape up.