Interesting perspective from Ankush Khardori in Politico Magazine:

[I]t has been clear for quite some time that a reelection bid would be one of Trump’s most potent legal defense strategies, both against the ongoing criminal investigation in Georgia stemming from Trump’s call with Secretary of State Brad Raffensperger and whatever it is that the Justice Department is doing….

Trump does not have to win a reelection bid for this strategy to pay dividends. For months he has sought to politicize the investigation in Georgia by claiming (ridiculously) that the investigation is racially motivated. If he is actively running, he can complicate matters further and inflame his supporters by claiming that Democrats and prosecutors are simply trying to get rid of him because Joe Biden is a terrible president who is on track to lose a reelection bid. That’s an argument that much of the Republican party and conservative media might easily rally around, however dubious it may be in reality. This could, in turn, disincentivize witnesses from coming forward or being as helpful as possible to investigators and prosecutors, particularly Trump’s fellow Republicans and others who might fear his wrath if there’s a chance he’ll get a second term.