I don’t see it.

Yesterday, the McCain rapid response operation kicked into high gear — “engaged” in the parlance of political operatives. The YouTube clips they (or their allies) have been posting anonymously for months finally went out under the McCain brand name, under a branded document titled “Mitt vs. Fact: Say. Do. Anything.”

This is the latest step in the logical progression of the McCain-Romney rivalry. For over a year now, the battle has been joined on the ground in places like Michigan and South Carolina, with volleys being fired on both sides and frontal assaults on McCain-Feingold and “Mitt-flops.” Supporters of one practically loath the other. The McCain camp’s overriding objective is to render Romney (and presumably, eventually Giuliani and Thompson) unacceptable. McCain-friendlies seldom if ever tout the Senator’s thin conservative credentials; they know that doing so would only draw conservative fire. The goal is to muddy the waters with attacks on Romney that seem to materialize out of thin air. McCain or his surrogates have attacked three other campaigns for sharing McCain’s own position on immigration! The McCain camp’s strategy: McCain’s opponents are just as bad as he is. The only difference is that McCain was never pro-choice.

This strategy seems to ignore a few recent developments. First, Fred Thompson’s entry into the race as a conservative alternative. And second, McCain’s voyage into the second tier. It will be a good long while before McCain can be considered a viable alternative for the voters they manage to convince not to support Romney. Why then attack Romney this early? The easy answer is desperation. But I also think that their passions have gotten the better of them. They’re on autopilot, and like Sunni and Shi’a, can’t imagine not fighting the other guys. But facts on the ground have changed. When the strategy was first crafted, few foresaw a viable Rudy candidacy and Fred Thompson.

If it works, their strategy will give us a Giuliani vs. Thompson race. Two clear finalists: a moderate vs. a conservative. Where exactly does the hard-to-pigeonhole McCain fit in in this scenario?