Hickenlooper has no chance. He’s too white and not “progressive” enough to get the dem nomination.
In a sane Democrat party, he would probably be their top choice. He was a businessman before he got into politics, and while it isn't because of him, Colorado has been doing very well during his administration. If he was elected after two Trump terms, plus we still had Congress, that would be our best "Democrat wins" outcome.
But he is a white male and therefore has no base in the party.