He is perfectly correct.
The irony of course, is that the conservatives would have won the next General Election in any case without 'selling their souls'.
There is a very nice, right of centre, ex-tory slot in the political spectrum which UKIP must now fill. Being 'the broad church' it now is, is not a preparation for power.
Not only would UKIP take vast numbers of conservative votes but also goodly amounts from the other parties whose right of centre supporters hate tories and always have.