Clearly damaged and with poor leadership at present, but that can be said for all the main parties. I’d very much like to see something new in the centre-ground of politics, i.e. leave the Conservatives to popularists such as Rees-Mogg, Gove, Francois etc, leave Labour to the irrelevant Derek Hatton clones currently in charge and build something that actually stands a chance of representing the vast majority of people. If the LDs have any decency they’d merge into whatever new thing may come, not try to compete with it.
The interesting thing if this does come to pass will be who is financing it? Always a huge issue in UK politics. Labour is owned by archaic ‘70s dinosaurs such as Len Mccluskey, the RMT etc, the Conservatives by landed gentry, tax exiles and big business, UKIP a vile alt-right nouvuaeu riche oligarchy. The LDs and Greens always suffered as they lacked the budget to really compete.