Having lived through it, it felt more like where Reagan was successful, it was a short term fix for a momentary problem, but it was sold as a permanent solution for the next 50 years. Where Reagan was not successful, they still worshiped his ass and continued clamoring for his solution because, "It was never properly done."
To see what I mean, look at the difference in the economies of Russia and China. Russia was entirely rebuilt by Thatcherites and Reaganites, and the free market reforms very predictably ended in corruption, wealth inequality, oligarchy, and dangerous overspecialization. China, starting from much lower, didn't get the Reagan/Thatcher love, and they catapulted themselves into the largest economy in the world, by some measures.
This is not to say there is no corruption, wealth inequality, etc. in China. But Russia is much worse off, all things considered, despite starting with a much stronger economy and society. It's not a coincidence that America is rapidly turning into Russia, now that the Reaganites are back in power.