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To an extent - yes.So are you saying momentum run the labour party, if so I cant see the labour party winning the next election either, they could pick someone centre left, but far left is not the way to win an election, we are not living in the 30s when times were hard for all the working classes.
With the way the Labour leadership is picked it's the people with the strongest feelings/most passionate politics that have taken the effort to sign up to the party that have the say - and at the moment these people are passionate about Corbyn's vision so will likely look to replace him with as like for like as they can.
As mentioned many times above, there needs to be compromise and these members need to understand that their views (or the leaders they pick, at least - I believe if you presented a lot of Labours policies under a different banner most people would love them) are not going to win over the people they've lost/the people sitting on the fence.
I can understand why they don't want to compromise on their beliefs, but, as above, I don't agree with it. Better to have a little of what you want and work for more than have none of it and be stuck under a Tory majority for the next half decade.