Oh certainly. Arnold and Reagan show celebrities can win based on nothing at all. But that's not my point: I didn't say celebrities, I said Donald Trump.
Reagan, whilst decried as "celebrity candidate" to some extent in '80, had been a union leader alongside his acting life, shown political (although Democratic) tendencies, gained eight years of Governorship (R) experience and then challenged Ford for the right to challenge Carter four years previously, both challenges losing. (Would a 'raw' Reagan, defeating Ford for the ticket, have done better against Carter? He had been espousing his 'Reaganesque' political attitudes already, but it's interesting to consider if his time had come, even in '76, just GOP hadn't been convinced enough of it.)
Whilst there are parallels (and could have been more, in an alternate run of history), there were also numerous differences between RR and Trump.
Arnie, OTOH, has a number of similarities. Although a Republican from his earliest days in the US (or so the tale goes, but sounds believable; the alternative (to him) sounding too much like the socialism he had recently left), it is arguable that his celebrity name recognition
and public dissatisfaction with the incumbent/fellow challengers in the Total Recall
1 state elections led to his appointment. But then it wasn't as President. Demolition Man's predictions aside, we never tested whether non-Californians were as susceptible, and (with a not unsuccessful 'Guvernator'ship behind him) it'd be hard to assess a post-61st Amendment presidential campaign (very much with the more traditional GOP foundation to him, and an accented but otherwise superior articulacy) as anywhere as similar to the "holy smokes, he came from
nowhere!" rise of Trump.
1 As per Trump, the media could be 'blamed' for his profile. They coined him as The Running Man, and the other film references, probably boosting his image. He didn't even do that many debates, just rode on his rep.