The last midterm election went to the Republicans, as the electorate realized it was the only last hope - although most of us realized it was a desperate attempt that would likely not produce any change. Many of us were excoriated at the time for saying that.
I can easily go back to 2006, when many conservatives were getting fed up with George W. Bush's lack of fighting back and his increasing desire to give in to amnesty. When John McCain became the GOP nominee (already decided before my state even had it's primary) - many, many Republicans were incredulous - and many were saying they wouldn't support him. At that time, those conservatives were told that this was the most vital election of our time - that it was essential that we voted Republican party. Of course, he lost - because he was one of the worst candidates one could imagine, after Bob Dole....and I can't even remember the other guys now.
It was the same with Romney. The GOP keeps advancing the moderate candidate that refuses to fight the other side. Many conservatives that really just wanted to ditch the Republicans and start their own party kept holding off - realizing that such an effort would take a very long time to gain strength - and that things had become so dire that we didn't have that kind of time left.
I've often wondered where we would be right now, if we had gotten smart and started that rogue party back in 2006, nine years ago. If we had been savvy enough to pull it off. A long shot - but we would have been nine years ahead of the game by now.