The candidacies of people like Michael Bloomberg and Deval Patrick (potentially) at the last moments of the pre-primary season are answers to questions nobody – and I mean nobody – was asking.
Bloomberg is a Republican billionaire trying the same thing that several other generic Rich White Guy candidates have already done, albeit with a slightly more recognizable surname. The idea that there was something the Howard Schultz or Tom Steyer campaigns couldn't do that Bloomberg somehow can is…well, it's the kind of thing that appeals to pundits desperate to apply their 2005-era Democratic Wisdom to the 2020 race (The path to victory is right down the middle!) Like Schultz, the most likely impetus behind the campaign is that Bloomberg talked to whatever Politics People he knows – fellow clueless elites, no doubt – and they realized they could milk some free money out of him if they told him it's a good idea. He has consultants who are flat-out making things up to encourage him to run, things no professional would say with a straight face and without being very handsomely paid in advance. Things like "Well, you're gonna skip the first four primaries and then win all the rest, because that's a thing that could happen."
This isn't a campaign, it's a handout to the campaign professionals with the least integrity and the best poker faces. I wonder how many election cycles it is going to take before these ultra wealthy egotists who end up getting 2% before dropping out realize that paid staffers have an incentive to tell the candidate who is paying them to continue running.
As for Patrick, the Bain Capital bigwig and former Basically a Republican Governor of Massachusetts, that anyone within the Democratic Party may have encouraged him to run is a sign of desperation. It is possible that he cooked up the idea on his own without anyone in a position of leadership or influence in The Party suggesting this, but he adds little that other candidates do not offer – candidates who are doing pretty badly, overall. He's a nicer Booker (is Booker not sufficiently Nice?) who's going to repeat the "Big business is our friend and better things aren't possible" message already being delivered by Biden, Pete, and Klobuchar.
If Patrick does have some powerful people encouraging him to do this, it's a clear sign that some people in the Democratic Party still believe that message works and they just need to find the right messenger. Imagine being two months away from 2020, being conscious for any point in the last 20 years, and believing that a guy who works for Mitt Romney's venture capital firm is the magic bullet.