I made the comparison between the British Tories and the Canadian PCs, who were wiped out in the election of 1993, resulting in (after a decade) the merger of the remaining PCs with the far-right Alliance to form the Conservative Party, which was able (for a while) to successfully combine the Alliance's electoral success with the PCs' institutional base.
The results of 2024 in the UK make this scenario less likely.
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The Tories were hit hard, but are hardly wiped out, and retain an institutional depth that Reform hardly have; while Reform's paltry 5 seats do not put a lot of pressure on the Tories. However, it will be pointed out that they would do better electorally together rather than separately, and this may lead over time to the "Reformization" of the Conservatives, as they try to attract Reform's voting base. But a merger is not an immediately foreseeable thing.
@DavidSalo as a person who has had first hand experience with a Reform/Tory merger, it does not end well.