@Cyber Liberty
Look at the facts again: don't let your dislike of her get in the mix: she would get those who voted for Hillary, meaning more votes than Trump, would get votes from those who voted for Obama, would get women votes including some white women who are disgusted with Trump; Michelle has become the most loved Democrat - women are dressing to look like Michelle dresses. This is a moot scenario as she is not running.
I don't disagree with your points, for the most part, but it ignores the people who don't want to go back to the depredations of the Obama and Clinton years. You know politics better than I, but the dynamics of elections is never static. 2012 was not like 2008, and 2020 is not like 2016 either.
Anybody with a (D) behind their name will capture close to half the popular vote for President, simply because of the constant hatred of anything Trump (and by extension, anybody with (R) behind the name). It's more like sports teams than like policies, where people don't root for policies, they root for the team they consider themselves on.