Hold on...you have to read deeper:
Forty-two percent say they prefer socialism as a means of organizing society, but only 16% can define the term properly as government ownership of the means of production.
In fact, when asked whether they want an economy managed by the free market or by the government, 64% want the former and just 32% want the latter.
Although they support a government-provided social safety net, two-thirds of millennials agree that “government is usually inefficient and wasteful,” and they are highly skeptical toward government with regards to privacy and nanny-state regulations about e-cigarettes, soda sizes and the like.
I'd say there is hope for the future if the Republicans IF they can shirk the establishment shackles and revert to a straight conservative-fiscal issues and leave the social issue to a more Libertarian position.