Lets say Biden does noticeably better than Bloomber (no idea if that happens just playing what if)

then the situation is flipped - Biden will be in the position to tell Bloomberg he needs to drop out because he is peeling votes away from Biden, the presumptive moderate leader, and hurting his chances of beating Bernie

Will Bloomberg drop out? not until after the 14th at least and he's dumped another $300m into the race

I think that sets Bloomberg up to run as an independent.

have you paid your dues, can you moan the blues, can you bend them guitar strings