Perhaps, but Cruz has a lot of enemies with deep pockets including Trump who threatened that he would see to it that he would not get re-elected. Though Cruz came out to say he actually was going to vote for Trump, I believe it was the threat from Trump that was one of the motivating factors in his decision. Perry, McCaul, and Abbott all supported Trump long before Cruz did...I was surprised when Abbott actually endorsed Trump.
The ENTIRE Texas GOP, including Gov. Perry, endorsed his opponent, then Lt. Gov. Dewhurst for Senator, Cruz left them all in his rear view mirror, bouncing in a roadside ditch.
Even after this disastrous election, Sen. Cruz has phenomenal grassroots support in his Home State and money in the bank, he will easily win Reelection, if he so desires to run.