Conservatives would be more comfortable with a ”loser” to take on Hillary? That would not have exactly inspired confidence either. And the YouTubes would still be there, etc. By not running for governor (and subsequently losing), Romney focused on the end of his tenure as RGA head, got to work on attracting a post-statehouse staff (remember how much talent seemed to go his way early on?), got ready to roll fundraising and building organizations in the early states, even did a heck of a lot more Fox News – probably useful steps for a guy with little name recognition (comparatively speaking). Running for governor and losing would have taken a toll, I would think, even just on morale (he still has some core staff, including his campaign manager, who were with him in Massachusetts). Anyway, that always struck me as the obvious decision. I can’t imagine Romney ever chosing to lose.