Kleptocrats and oligarchs invest considerable effort in defaming socialist policy. They know this helps keep labor dirt cheap and unprotected from exploitation. If they can add racial resentment to their patter, feed that to the white working class, even better.
Given how many suburban voters cast Biden votes but then GOP votes down-ballot, I'd say plutocrats mostly won this round. We remain a center-right nation. Biden will do his best, but I don't see GA going for two Dem senators who are down four points in polls. Really, at this point, I think AOC is correct, that Dems need to get out of the middle of the road and offer a more robust alternative to GOP neoliberalism. And that won't happen without election finance reform.