Biden doesnt know it yet, but he is going to announce that he wont run again. The question is, who will be the Democrat nominee? Not pretty boy Newsom, could it actually be RFK Jr.?
Newsom and Hillary probably both think they have a chance. They could go for another governor--Whitmer or Shapiro (but they may be unwilling to nominate a Jew because that would cost them votes from some of their core constituencies). Maybe some other governor. But they may have to put a black person on the ticket for VP if they get rid of Kamala.
Stacey Abrams is still available, and AOC will be old enough to be elected by 2024.