There are no intellectual Trump supporters who look at what he proposes and takes it seriously...much less believes it. His campaign commercials have gotten more brazenly crazy about how he will "create" 10M jobs in 10 months. There may be 10 million more people working now than there is in January 2021...he will have created very few of those jobs.
Its just one lie after another. And there are a lot of voters who disregard what they know lies. Which is why this is a closer race than it should be. Such is our system.
I think it's more along the lines of the people who voted for Trump last time just can't admit they made a mistake.
No matter how bad he messes things up.
The key thing about the other incumbents who lost (Discounting Ford, who was never elected to start with) was that a viable third party allows you to not vote for the incumbent without admitting you made a mistake. A lot of liberals voted for Anderson and a lot of conservatives voted for Perot, which allowed them deniability.
I do think that no matter how this turns out, Trump will still get 45% of the vote. That's the Republican Floor.
It won't be enough, though, because Biden will get at least 51% and will win at least the Rust Belt Three. You won't see as many people staying home and you won't see as many people wasting their votes on third parties.