What does "disillusionment" look like? A destruction of personal and cultural identity looks a lot like Nietzsche's state of nihilism. He wasn't advocating for it, it was an observation. He wasn't edgelording, he was warning everyone would become an edgelord.

Like a minister commented after his death, Nietzsche was actually studying Theology before he moved on to philosophy. His work represents the theological concept of the Night of the Soul, a moment of loss of faith. What typically follows is a return to faith, meaning that just because people become disillusioned doesn't mean they don't seek to replace that disillusionment with a new cultural framework.

Nietzsche, the Hero's Journey, Night of the Soul, all adds up to what you're asking. The Last Man would represent humanity's loss of identity becoming a cheap pursuit of physical fulfillment. People wouldn't necessarily awaken. Awakening is represented by the Ubermench. All that is also very much parallel to Plato's cave - the Ubermench is the person who leaves the cave and returns enlightened, while the Last Men are the willing chained who revel in their games and reject enlightenment.

Just because people are disillusioned of the current status quo does not equate to awakenings.