Exactly, and that will be the equivalent of a second referendum achieving Remain.we should really separate the EP vote from the next GE, but for argument sake, if Farage manages to build a proper party with a program for government, he would have taken about half of the conservative voters and about 20% of the Labour voters.
There will then be a general alignment, the two main parties will be for remain and the brexit party will be for brexit.
Remain will form the next government and brexit will be delayed or cancelled. I doubt that Farage will have more than 10-15 MPs. As soon as he has a manifesto, most of Labour voters who may vote for him in the EP will go back voting for Labour.
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