This question came up ten years ago, when Arnold ran for governor, and he said he didn’t want the Constitution amended just for him. What has changed his mind since then?
That’s another reason this looks bogus.
Of course, he’d only get a free pass from the partisan media shills for his philandering, divorce, and national origin if he switched parties before he announced. The Demagogic Party would have 100,000 astroturf staff on the streets getting signatures for the ballot proposals to amend, and have his ex-wife give a ringing endorsement of his candidacy (more ringing than “I believe my husband’s story” about Chappaquiddick from Joan).
That’s easy! He WON!
This British/Indonesian/whatever guy just walked in to the White House and no one stopped him. So why not an Austrian?