Thinking strategically, I think RFK could run, wipe out Biden's bleak chances, and still have it make sense as a true Democrat.
The DNC has been utterly dominated by the Clintons and Obama et al for roughly 30 years now. Look at how Sanders has been treated, look at how RFK is being treated right now. The current DNC is no more legitimate than elections in the USSR, and more people are starting to recognize this. What matters is that more lifelong Democrats are recognizing this, not that you and I know about it or care. So the DNC is losing support, legitimacy, and enthusiasm. They can still "win" through various means, but at some point it will be too fake to sustain.
If RFK runs and destroys the Dems in '24, presumably ushering in Trump or some other GOP pick, there will be a severely weakened DNC that will then be (hopefully) wiped out by legal investigations, turnabout from the 2016-today era against Trump. The DNC and its senior members are obviously corrupt enough that every one of them has committed major felonies, it only requires a basic investigation, and no bias is needed, just sunlight.
RFK hasn't really been in politics yet and doesn't appear to have corruption or crimes in his background, whatever people may think of his positions on issues. So he could cause a DNC crisis in '24, get blamed, sit back and watch the DNC get burned to the ground for a couple years, then step in with some hand-picked helpers to rebuild a new Democratic party that resembles his father's era, rather than the Clinton-Obama era. This is probably his only path to political power, given that he is shut-out from the current DNC and would never run as a Republican, or get elected to anything if he tried that. His only real alternative would be starting an all-new party, which is far less likely to work.
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