The Republican Party will have to move towards the center to have any reasonable chance of winning future elections.
Trump's campaign strategy--telling white people they have good genes and that he will keep blacks out of their suburbs and immigrants out of their country--won't work. His strategy for youth--having said that people earn "too much" and attacking Social Security, Medicare, universal health care, labor unions; having a Secretary of Education who has financial interests in student loan companies and is demanding students' pounds of flesh even when their schools go out of business or fail to live up to their responsibilities.
Young people don't want to be hanging on by their fingernails as income inequality squashes their dreams. They don't want Trump's social conservatism (i.e. do as Trump says, not as he does.) They don't want fossil fuels, air and water pollution, climactic disasters like forest fires and hurricanes.
The Republicans have had a strategy. Voter suppression. Gerrymandering. Trump's traveling road show shouting gloom and doom.
If Biden wins, as predicted, he will encourage voting. More votes help Democrats. And as time goes on there will be too many blacks, immigrants, and young people for the Republicans to win elections on hate, division, and an anti-millenial agenda.
So yes, Republicans will survive. They will be more centrist, like Republicans of old I admired---Jacob Javits, John Danforth, Nelson Rockefeller. Democrats will also become more progressive, more like Sanders and AOC.
Or we could stick with the current Republicans and watch as Miami goes underwater.