I think Cruz is putting her in place to try to get a bump in Indiana and maybe some help with CA. After that, if he were to rangle the nomination, she will drop out for health or family reasons. She is useless in a general election.
She won’t help enough in her home state, no R is going to win CA... she can be every bit as divisive as Clinton. And you would have given up the chance to nominate someone who could actually help win a swing state, which Ted is going to need a lot of.
Most of the cash went to Isgur Flores (a $500,000 transfer from a Ted PAC to a Snarly PAC last year)...the VeePship goes to Snarly.
The VeePship has value because, while there is a remotely small chance they will win the nomination, there is Yuuge media value in trying.
This is the reason Ted announced early Veep.
She demanded it...and Ted owed her for keeping her mouth shut.