I believe that she would be open to being a compromise candidate, winning the nomination by acclaim at the convention after the field narrows and none of the candidates are able to generate any enthusiasm. The longer she waits to not declare the smaller the field. Pretty smart, eh?
I could see her attempting a dark horse strategy.
I could also see her just playing coy until the last second and rescheduling her commitments.
My theory is even if she doesn’t intend to take the nomination she’ll take advantage of the medias obsession with her to both give shelter to the potential nominee, while culling the herd by being a kingmaker presence.