Regardless if you're very disappointed at Obama due to his failures on policy fronts or if you are still enthralled by his charisma, the election of Obama was very important in the history of America and a positive change in large scheme of things.

His election showed in very tangible way that America is changing and it is changing fast. This also spooked the hell out of a sizable section of Americans who thought the power structure in most walks of life that ruled America since its founding was gonna stay here forever. This was also the beginning of right wing extremism that was mostly relegated to background noise up till that point increasingly became prominent voices and increasingly became a sizable reactionary force against rapidly changing America.

Seeing for example gays getting in loving relationships and becoming increasingly socially acceptable or weed smoking becoming very acceptable recreational activity or rejecting all forms of religions/leaving church become very socially acceptable or non-whites taking top leadership positions in private sector and in government was absolutely shocking reality for those reactionaries.

This reactionary force coalesced into so called "Tea Party" against Obama and everything he stood for or against rapidly changing America by proxy. This reactionary force which believed in all sorts of nutbag conspiracy theories ultimately saw Trump as "a big beautiful wall" to reject/stop rapidly changing America.

By sheer luck, they had just enough people in battleground states to win in 2016 and capture the White House but everything they believed in was so antithetical to what most moderates live by that they lost the White House in 2020 by sheer bad luck this time because there were just enough sane voters in battleground states to stop these nutbags.

In 2022, the so called "red wave" never materialized bucking historical trends when it comes to mid-term elections. This also means the coalition that defeated Trump (and right wing reactionaries) in 2020 mostly held their ground pretty firmly.

https://www.youtube.com/watch?v=QURLbHWOjSU