I'd have an easier time taking this seriously if his lack of fiscal conservatism wasn't the cause of Specter losing his partys support.
The only problem with that is that Specter's "party" is demonstrably much less capable of winning elections; the latest national polls show that fewer than 25% of the population identifies as Republican -- this is a much worse showing even than on election day 2008.
A candidate who draws 100% of the Republican vote would (and no one else) would still lose (today) to a candidate who drew 40% of the non-Republican vote (and no one else).
The smaller and more tightly-wound the Republican party gets, the fewer votes they can actually deliver in a contested election.