But credit where it’s due: Haley has knocked out Scott, passed Christie and challenged DeSantis by succeeding at a core aspect of presidential politics — presenting yourself as an appealing and charismatic leader who can pick public fights and come out the winner (at least when Vivek Ramaswamy is your foil).

It’s time to admit that I underestimated Nikki Haley. When she began her presidential campaign, she seemed caught betwixt and between: too much of a throwback to pre-Trump conservatism to challenge Ron DeSantis for the leadership of a Tropified party, but also too entangled with Trump after her service in his administration to offer the fresh start that anti-Trump Republicans would be seeking.
If you wanted someone to attack Trump head-on with relish, Chris Christie was probably your guy. If you wanted someone with pre-Trump Republican politics but without much Trump-era baggage, Tim Scott seemed like the fresher face.
But now Scott is gone, Christie has a modest New Hampshire constituency and not much else, and Haley is having her moment. She’s in second place in New Hampshire, tied with DeSantis in the most recent Des Moines Register-led poll in Iowa, and leading Joe Biden by more than either DeSantis or Trump in national polls. Big donors are fluttering her way, and there’s an emerging media narrative about how she’s proving the DeSantis campaign theory wrong and showing that you can thrive as a Republican without surrendering to Trumpism.

To be clear, I do not think Haley has proved the DeSantis theory wrong. She is not polling anywhere close to the highs DeSantis hit during his stint as the Trump-slayer, and if you use the Register-led poll to game out a future winnowing, you see that her own voters would mostly go to DeSantis if she were to drop out — but if DeSantis drops out, a lot of his voters would go to Trump.

As long as that’s the case, Haley might be able to consolidate 30 or 35 percent of the party, but the path to actually winning would be closed. Which could make her ascent at DeSantis’s expense another study in the political futility of anti-Trump conservatism, its inability to wrestle successfully with the populism that might make Trump the nominee and the president again.

But credit where it’s due: Haley has knocked out Scott, passed Christie and challenged DeSantis by succeeding at a core aspect of presidential politics — presenting yourself as an appealing and charismatic leader who can pick public fights and come out the winner (at least when Vivek Ramaswamy is your foil). So, in the spirit of not underestimating her, let’s try to imagine a scenario where Haley actually wins the nomination.

First, assume that ideological analysis of party politics is overrated, and that a candidate’s contingent success can yield irresistible momentum, stampeding voters in a way that polls alone cannot anticipate.

For Haley, the stampede scenario requires winning outright in New Hampshire. The difficulty is that even on the upswing, she still trails Trump 46-19 in the current RealClearPolitics Average. But assume that Christie drops out and his support swings her way, assume that the current polling underestimates how many independents vote in the G.O.P. primary, assume a slight sag for Trump and a little last-moment Nikkimentum, and you can imagine your way to a screaming upset — Haley 42, Trump 40.

Then assume that defeat forces Trump to actually debate in the long February lull (broken only by the Nevada caucus) between New Hampshire and the primary in Haley’s own South Carolina. Assume that the front-runner comes across as some combination of rusty and insane, Haley handles him coolly and then wins her home state primary. Assume that polls still show her beating Biden, Fox News has rallied to her fully, endorsements flood in — and finally, finally, enough voters who like Trump because he’s a winner swing her way to clear a path to the nomination.

You’ll notice, though, that this story skips over Iowa. That’s because I’m not sure what Haley needs there. Victory seems implausible, but does she want to surge so impressively that it knocks DeSantis out of the race? Or, as the Dispatch’s Nick Catoggio has suggested, does the fact that DeSantis’s voters mostly have Trump as a second choice mean that Haley actually needs DeSantis to stay in the race through the early states, so that Trump can’t consolidate his own potential support? In which case maybe Haley needs an Iowa result where both she and DeSantis overperform their current polling, setting her up for New Hampshire but also giving the Florida governor a reason to hang around.

This dilemma connects to my earlier argument that beating Trump requires a joining of the Haley and DeSantis factions, an alliance of the kind contemplated by Trump’s opponents in 2016 but never operationalized. But I doubt Haley is interested in such an alliance at the moment; after all, people are talking about her path to victory — and here I am, doing it myself!

Fundamentally, though, I still believe that Haley’s destiny is anticipated by the biting, “congrats, Nikki,” quote from a DeSantis ally in New York Magazine: “You won the Never Trump primary. Your prize is nothing.”
(The author is an Opinion Columnist)