The reason Conservatives don't do well in primaries is so damn many of them believe they are the "true" Conservative and divide the vote among them. Then there is the "Devout" candidate who flim-flams the "True Believers" as far as he can, until only the Moderate remains.
That is not intelligent, or politically sophisticated.
I think some of them run, because "former potus candidate" is a career enhancing move, yielding six and seven figure income, almost for life. Buchanan, Gingrich, Palin come immediately to my mind.