Are the Political Parties Dying?

Yes, they are. The phenomenon can be called ultrapopulism. When the cohort of people that can be made to vote even for a devil himself with the most banal promises of free vodka and sausages exceeds a critical mass needed to guarantee a party courting it a political majority, the hell breaks loose.

In such cases, why would one even bother to resort to a complex party-political movement and value system cultivation courting moderately smart people, when the electorate secured through such means will have no chance exceeding the electorate of a hyperpopulism practitioner.

No, they aren't dying, if you're talking about parties in general. However, major splits inside the main parties will happen if those parties don't allow other new parties to rise up - which is exactly what the two political parties in the US have done, in more ways than one.

The only surprising thing about this is that people are surprised it's happening at all and that everyone isn't supper happy with their century old parties.