In theory. And if you look at post war UK. It Def lead to a greater support for socialism, the forming of new party etc. removing our past 2 party system with a different one. The very one that no longer supports socialism.
But socialism cannot and will not grow it of nowhere. The US has never had a large support for it. The UK and much of Europe had people with respect pushing socialism in the 50 to 60. Ex soldiers seeing a whole new way of doing things built the very socialism we understand now.
The US just dose not have anyone effectively making arguments for this. Without such leaders. And honestly we also have non effective left in Europe anymore either.
Add to that. Their is absolutely no evidence of capitalism losing control. It is actually doing very well by it's own standards. As instead ideas like socialism are losing power while capitalism is effectively moving wealth into the hands of the few and most powerful.
It is only failing by the opinion of those of us that disagree with it.. and expecting that to start socialism without some major change. Is just wishful thinking.