Now that we can get a fully rounded picture, I think there are many reasons the Conservatives should be concerned. A low turnout still led to a poor result inflated by a few ex UKIP / hard Brexit industrial working class areas who are likely to come around to Corbyn by election time and who May will have to compromise with a softer Brexit anyway.
I can't see any reason for any major policy revisions from Labour nor any post-mortems such as Chuka Umunna is demanding.Brexit will play out and positions will change as it does.
As we’ve seen last year there can be a huge difference in just a few weeks. Some lessons and humility is needed in terms of managing expectations but I think this Guardian assessment is balanced: “Labour ran neck and neck with the Tories – 35% to 35% – in the projected national share of the vote (last year the Tories had an 11-point lead), won its best share of the local election vote since 2012 and, in London at least, it turned in some of its best borough performances for a generation.”
Out of 4,000 seats, Labour won 2,310 - pretty much 1,000 more than the Tories and more than all the other parties combined.
What it needs a continuation of the kind of grassroots energy that activists and Momentum are bringing to marginals in particular, some progress in Scotland and a re-engagement of a huge youth vote - combined with the wider and more impartial national coverage afforded at general election time and power is theirs.
I'd rather Britain had a different electoral system where independents replaced the current two party polarity and will continue to work towards that.
Otherwise, as I see it, a long-overdue socialist Britain is the likely - and much needed - outcome.
Onwards and upwards...