It's not the same, because the demographics are so different. We're not in the same kind of dominant position we were in '80 and '84.
However, it may still be a milestone election in that it exposed some serious underlying cracks in the Democratic coalition. Specifically, that a strategy of building a coalition of victim groups falls apart when the groups start demanding prioritization in their aggrieved status.
Hillary didn't lose because she didn't appeal to white working class voters. She lost because she couldn't appeal to them. When Bernie tried to present a more class-based "we're all in this together" argument, BLM went nuts. They considered it disrespectful to their victim status that white people could be considered victims too, so they forced the Dems to focus almost solely on appealing to minorities.
I think it is going to be somewhat tough for them to patch that back together. We may actually have a long-term opportunity here.