Are anti-establishment parties (some, but by no means all, on the right) generally rising in Europe? Yes. Should the establishment react? Yes. Yet the underperformance of the Sweden Democrats relative to US/UK media hysteria is part of a depressingly familiar pattern.
The English-language media makes two main errors. 1) It detaches the rise of the anti-establishment right from a story that also encompasses the centre and left of the spectrum.
2) It grossly exaggerates the differences between Anglo-Saxon majoritarian politics and continental proportional politics, in a way that gives the continental populist right far too much credit and is wildly ignorant of swathes of continental historical precedent.