The official explanation for what happened by the New Democrats certainly provides ammunition for the centrist and Demican wing of the party. An excerpt:
Overcoming the cultural trust gap is not just a matter of carefully calibrating positions on specific issues like guns, abortion, or this year's big wedge issue, gay marriage. Indeed, John Kerry did not repeat Al Gore's mistake of leading with his chin on such issues. The problem is that many millions of voters simply do not believe that Democrats take their cultural fears and resentments seriously, and that Republicans do.
As in so many recent elections, some Democrats believed they could trump the cultural concerns of middle-class families through economic appeals, asking voters to look to their pocket-books rather than their hearts when entering the polling place. If there was ever an election where this should have worked, it was this one, and it didn't.
If, as the DLC has long argued, the test for Democrats is to convince voters that they will defend their country, share their values, and champion their economic interests, it's pretty clear Democrats continue to come up short on the first two tests even as they pass the third with flying colors.