Deluded. Labour lost because Milliband was seen as too left wing, hence the title "Red Ed". At the time of the last election, most people down here genuinely thought he was far too radically left. The revisionism needed to think that Labour were "Tory light" is unbelievable. It only looks that way now because Corbyn is a Marxist lunatic, off the scale of extreme left.
Labour would've cruised the last election with a competent leader e.g. David Milliband, Umuna, Jarvis, Benn, Burnham. They lost because of their leader, not because their policies were too close to the Tories.
If Labour want to continue with Corbyn, they'll probably get less than 25% of the vote, and there will be a 150 seat Tory majority. People don't like or want socialism. Irresponsibly borrow, wastefully invest, then tax your heart out. It just doesn't resonate with middle income swing voters. Neither do the trade unions or uncontrolled immigration. Don't say you weren't warned. It is political suicide.