That's an opinion and a boring argument, but I don't think it has much to do with "horseshoe theory". I think that read (that adopting "leftist policies" (like... social security? immigration liberalization? not sure what we're talking about) invariably(!) leads to a result that is not legible as 'left' at all but for its history) is probably incompatible with "horseshoe theory".
That would be the end-state of what inevitably happens when you adopt leftist policies.