Interesting speculation on the meaning here: https://www.hughhewitt.com/blog/g/a4559797-c1f9-4d88-b07f-d263bea67165

I think it would be suicide for Bayh's presidential chances to run against Obama in the 2012. The problem is that there is a way to run for a party's presidential nomination from the center, but timing and style matter alot. Its not just that he would lose (even if Obama's job approval were in the 30s, he still beats Bayh in the primaries, Obama will be too strong with the left-leaning voters in the primaries), its that the bad blood within the institutional Democratic party and the party's voting "base" would put him in Joe Lieberman pariah territory. Even if Democratic primary voters were ready for a moderate in 2016, memories of 2012 would still rule him out.

Bayh might want to get himself put in charge of a think tank and spend the next six years trying to come up with a populist and leftish sounding anti-Republican rhetoric, and a bunch of smallish policy proposals (and don't be afraid to steal some from the right). That 13 million in the bank isn't a bad start either