The old arguments were right. Americans live materially better lives than anyone else. People are disenchanted because of the things that can’t be outsourced (housing, education, healthcare) have become so expensive.
The America First doctrine, in practice, has meant using power to do things that nominally appear in our interest, but don’t account for the second and third order effects. ie bully allied nations into accepting high tariffs without reciprocating, which doesn’t account for our own industries being hurt by higher input prices, a new reluctance to enter the US market, less competition, etc.
Protecting US workers from competition nominally helps those select workers, but it also makes them uncompetitive, steers businesses from setting up shop here at all, makes things more expensive for US consumers, and reduces innovation and upskilling.