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I think this says a lot about Liberal voters.
When Kim Campbell was in charge of the Conservatives, they were reduced to 2 seats. Sure the Reform was still around (with arguably a strong leader in Manning), meaning that the Reform+PC got 56 seats.
With Dion, arguably the worst Liberal leader of all time, they only go down to 76 seats.
People complain about the West voting nothing but Conservative... and yet Liberal voters are exactly the same.. and even worse in my opinion. We keep hearing that these are uncertain times and yet their leader wanted to change (Shift) the whole economy. Add in all of the other Dion criticisms, and yet still gets 76 seats???
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Mulroney's majority coalition was built on three voting groups:
Quebec nationalists (Bouchard et. al.)
Western conservatives
Red Tories/Blue Liberals in Ontario and Atlantic Canada
In the 1993 election, the first group went to the Bloc, the second group went to the Reform Party, and the third group went to the Liberals.
The loss of support amongst those three groups, coupled with Kim Campbell's disasterous campaign (which featured the infamous "Is this a face you can trust?" ad) resulted in the decimation of the PC Party. The fact that the Liberals won 76 seats yesterday despite a poor leader and a bad (but not as terrible as Campbell's in 93) campaign shouldn't be spun as being a "victory" for the Liberals by any means. This is, afterall, their second worst result since Confederation.