The PCs in 1993 were actually a three party coalition and got blown into three pieces with the Quebec nationalist wing forming the Bloc Quebecois, the Western populists the Reform Party and the rest staying with the PCs.  Yes winning 99 seats is not a bad defeat, but lets remember when Martin was turfed he got 103 seats yet it wasn't until the party got reduced to 34 seats they finally got serious and came back.  Often massive defeats lead to major wholesale changes whereas minor defeats lead to the party continuing to do the same thing thinking next time will be different.