U.S. President Joe Biden is caught in a quadfecta of corruption, cognitive decline, a failed agenda and eroding polls. Amid this apparent vacuum, an opportunistic Barack Obama, who used to be more discreet in managing his third term, is re-entering the arena. Last week, he came out as the overseer of the Biden administration’s AI agenda, even as his foundation’s “Democracy Forum” was warning Americans about the need for “inclusive capitalism” and the pathologies of “material consumption”—all this from a multi-mansioned multimillionaire. Now, Obama is weighing in on the Gaza war by undercutting his third-term presidential proxy. Yet just as...