I would say that is swing as already over and the US was a late comer to the trend. Of the ur-strongmen of the democratic world, Orbán just got the boot and Erdogan's genuine popularity peak is also long over, although he might be able to hold on power by simply hijacking the state and jailing his opponents. And there are quite obvious marks of Trump fatigue on the non-MAGA American right as well.

The one genuinely popular populist leader who seems to be holding is Modi in India.