Kate Forbes has clearly decided not to run, which is hopefully a decision made from a position of strength due to a deal with John Swinney. The SNP have missed a golden opportunity to get back on track, but I'm not as despondent as I was a year ago when Humza Yousaf narrowly won. That outcome was an unmitigated disaster because it lumbered the independence movement with three problems simultaneously - a) it put independence on the backburner for the foreseeable future, b) it installed an unsuitable leader who the public actively disliked and thought wasn't up to the job, and c) it led to outright factional rule, when the public are known to reward united parties and punish divided parties.
Those three problems have now been reduced to one-and-a-half. Independence is unlikely to be seriously pursued under Swinney's watch, but he's 60, and whatever he said today, it may well be that he'll see the SNP through the general election, after which the party can properly decide its future with a full-blown leadership election. And although he's not a suitable leader in the sense that he's not going to inspire anyone, the polls are clear that he is better regarded than Yousaf and is certainly regarded as far more competent. I suspect Redfield & Wilton's monthly polls will show a healthy lead for Swinney on the head-to-heads with Anas Sarwar for "who would make the best First Minister" - and if Swinney does hang around until 2026, that may well be enough to keep the SNP as the largest single party at Holyrood, and possibly enough to keep them in government, although whether it would rescue the outright pro-indy majority is much more doubtful.
And most importantly, it sounds like factional rule will be ending and that there'll be a unity cabinet. The Greens will not be bringing down the government but neither will they be in the government, which is arguably the best of both worlds. So the SNP can probably look to the general election with slightly more optimism than seemed likely before Yousaf helpfully imploded. But I repeat, this is a waste of a golden opportunity, and if the SNP do lose the general election, this will be one of the key moments they'll trace the defeat back to.