Think that is about right.

The London results were positive but there is little dent in the Red Wall seats that Labour will need to win the next election. I think the Tories have reabsorbed most of the Farage right flank and there is still a strong leave/remain divide that cuts across traditional party lines. This seems to favour the Tories in the Midlands and North at the expense of the the south where they are now more vulnerable.

I agree that Labour has to make a more positive case for change, though policies don't usually firm up until the latter stages of parliamentary terms. It looks like not being Boris Johnson is not enough for Starmer, particularly as the probability is that the Tories will jettison Johnson before the next election.

One thing I would say is that the Tories are not exactly fizzing with new ideas to sell either now or for the next election. Levelling up seems more of a slogan than a set of coherent policies. They can hardly go into the next election on a Brexit platform having "got it done" in this cycle, though they will no doubt sow seeds that the other parties will undo its imaginary gains.

I can only see informal agreements with other parties where 2nd place in seats is clear cut.