Personally I'm pretty pessimistic about the next election. This government has been one of the worst in my lifetime and yet it hasn't really suffered the drop in support you might expect. If Labour can only just about muster tepid poll leads, I think they're going to struggle.
There maybe some shock results. In 2015 the local elections for my ward had Tories get 75% of the vote, 2022 it was just 45%.
2015 general election 65% Tory vote for the MP, 2019 this had fallen to 60%. However the UKIP vote had also dropped from 8% to 0%, and it's unlikely much of that later vote had gone to the Lib Dems.
Our local MP has publicly supported Boris, and that may well harm his reputation (for example the local Facebook post of their most recent photo opp in hi-viz was almost all negative comments).
I would be surprised if they lost at the next election (but then I could see it happening too) however there's a load of Tory seats which would be at much higher risk than that one and you don't need many to opt to not vote and/or some tactical voting and the number of Tory seats could fall quite quickly.
Whilst probably a bit of an unexpected outcome, but 100 Lib Dem MP's in the current climate might not be impossible. As whilst Labour could do OK in London and the North, in much of the South and South West they tend to be in third place. As such if they gain some seats across each of Surrey, Hampshire, Sussex, Kent, Buckinghamshire, Berkshire, Somerset, Wiltshire, Dorset, Devon and Cornwall; that could be (assuming an average of 3 per county) 36 seats (which would likely give them a total of a little over 50 seats).
However if that average increased to just 4 seats per county that would rise to 48 and push their total to potentially higher than their best previous result of mid 60's.
Tories may still hold ~200 seats and Labour ~250 (so not a large increase for Labour) but with it being rare that there's a big Labour and Lib Dem vote when competing against the Tories even small shifts away from the Tories can have a significant impact on how well they do.
Of course the Tories could hold onto power, however there's a lot which has made people not like them (Partygate, cost of living, Brexit, scandals, etc.) and so there's quite a few reasons not to vote for them.
Whatever the result it'll be a difficult one to call and interesting to see the result.