(If so, it could be spun as an "Are you sure?" remain/leave referendum and thus save face for a remain decision (making the assumption that that is the decision), although even in that case I doubt the EU will be all that welcoming.)
Of course your average voting citizen has not even a bare understanding of civics 101 and quite often in these circumstances various elements of the press demand a new election in order to make certain the PM has a mandate, if it suits their purposes.
Personally I think it's quite likely to turn out as you suggest, Boris is going to fail to negotiate even the slightest terms from Europe and will call a snap election at some point where the parties themselves will campaign on in or out, where both Labour and Conservatives will be in.
That will take time. Give it a few weeks or months, and chances are someone will think he can spin it as "doing a dirty job, but it is best for the country, and somebody has to do it" and get away with it.