I'm sure there's an interesting debate to be had, but it's unlikely when the starting point is the scenario outlined.
To answer

Is post covid Tory Britain worse than post financial crisis Labour Britain? - no

Is Tory Britain worse than Social Democrat Germany or Socialist Party Spain or Portugal, or centrist France? no - possibly worst in Germany

Do we actually have austerity now? - no I dont belileve so - see below though.

Did Labour oppose austerity a decade ago? - yes

Is life at the bottom really harder now than 12, 15 years ago? - inflation caused by various external factors didnt help but coming bacj down to within range now.

If so, are these all the result of the UK govt or are other factors at play? - other factors as we know, Covid, Ukraine, Brexit uncertainty - now mostly gone.

Where we remove the Tories from many policies such as in Wales, do there problems get much better? - worse. Labour over spent the budget by 900,000,000 (20% of the budget I think) and has now cut every one of the Senedd's dept spending - apart from climate change. Drakeford doing his own austerity now.