The world has changed a lot since New Labour. Not that Corbyn is necessarily offering what the world needs now, but the lessons that led to New Labour do need to be questioned. The Internet age has brought both corporations and wealthy people a lot of dominance at the cost of the young and the poor, so "socialism" doesn't have the stigma that it used to among some demographics.

The Tory move to the right could give Labour a lot of room to maneuver as an actual left-wing party, rather than seeking centrist votes. As I said, Corbyn himself may not be the one to lead it there, but I'd suggest that the 90s were a long time ago and it may be time to find some new lessons.