It's the other way around. There's a lot of overlap with conservatives and big L Libertarians over idealized "rugged individualism" fantasies. Conservatives like it because it's an excuse to continue marginalizing historically marginalized groups, and Libertarians like it because it feeds their ubermensch delusion.

So when conservatism becomes unpopular, a lot of those voters do the big L protest vote, so Republicans messaging to Libertarians is really just Republicans attempting to form ranks, not embiggen the tent.