No because her candidacy turned a significant percentage of moderate Republicans into independents, like myself.
I also saw some cases of this happening around 2008 or so, with people citing either the Bush presidency or the rise Palin-like Republican figures as their basis. My father bailed on the Republican party around '06 or '07 after being pretty strongly for them since the 80s. So far he hasn't gone back, voting either Dem or third party since then.
I think it's safe to say the Republican party is in something of a transitory position post-Bush as there's been a lot of shake-ups and identity searching inside the party over the past two years, more than usual, and I'm not sure if they'll come out better or worse in the long run.