Article after article has tapped a sword on Edwards' shoulders and dubbed him kingmaker, apparently because there is little hope on deciding who will actually be the king. Polls still show Hillary to be well ahead of Obama, but Super Tuesday is a bit of a black box out of which anything could emerge. Hillary shows prominence in the major states of New York, New Jersey, Connecticut and California, however the Democratic primaries delegate delegates in a fair and orderly manner, each candidate receiving a number proportional to their winning. This means that the frontrunners will both be gunning for the 2025 delegates necessary to be crowned presidential candidate.
Where does John come in? Well, there are 4,049 delegates to pass around, and Edwards is expected to collect about 10 to 15% of them, or 400-600. This leaves approximately 3,500, which means that one of the two leaders needs to stomp the other by nearly 20% in order to win. The gap between Hillary and Obama is only 10% or so by most polls, which puts John in quite an interesting situation.
Sure, he could step back from the dogfight and do whatever it is candidates do with any unused money they raised. However, a candidate gets to spend their earned delegates how they want once they leave the ring, so why not stick it out and exert the power that he doesn't have a chance at earning as president? Moreover, if he gets to choose, it's almost as good as winning since he's basically securing a spot as vice-president, and this time to someone who could actually win.
To sum it up: The media is somewhat nobly trying to avoid being wrong after Super Tuesday and is refraining from giving a definite answer as to who will walk away with the blessing of the left. It's mainly the fault of the registered voters who have refused to fall in line and stick behind an obviously not-worst choice. Therefore, they are doing the next best thing to calling the race: calling who will call the race. John's making a brilliant move here, but the media is making the equivalent move in their own little game.