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which is just late stage liberalism

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Even if that’s the case (I’m not sure it is), it doesn’t make them the same thing.
It’s not like there is a law of nature that says Social Liberalism can’t make a comeback.

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It’s the evolution of a social system guided by the same set of rules. There is actually a very good reason why social liberalism can’t make a comeback. The dynamic of liberalism that champions private ownership leads to capital accumulation in the hands of the small capital owning minority. As the system continues to function you hit a point where the oligarchs have disproportionate power in society leading to the transition into neoliberalism that we’re living under now.

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Social Liberalism came about as a response to Classical Liberalism creating the same oligarchic problem you just described.

If it happened once, it could happen again.
I don’t know if it will, but its certainly possible.

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