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I pessimistically expected that.
If he bowed out and the Dems nominated a halfway decent candidate (which they likely wouldn't do, but that's a different subject), they'd demolish Trump. He'd lose so badly he couldn't even pretend it was fraudulent (though of course he'd claim that anyway, since he has the emotional maturity of a spoiled five-year-old). The race would instantly go from a terrifying risk to a complete rout.
But between Biden's ego and the DNC's determination to stick with a wholly-owned establishment neoliberal hack at all costs - even if it means losing - I expected that they wouldn't take this golden opportunity.
Biden has objectively been the most progressive president since LBJ, and the most effective progressive president since FDR. And he did it with about the slimmest possible congressional margins, a situation which would have made it very easy for an actual "establishment neoliberal hack" to say "my hands are tied" and accomplish nothing of substance. Instead we got the biggest climate reform package ever, the biggest infrastructure package since the Interstate Highway system, a child tax credit that massively reduced child poverty, the most significant industrial policy in decades (CHIPS and Science), a veritable bulldog FTC chair with an aggressive anti-monopoly stance, and that's just for starters.
That's all well and good... And it will be for nothing. Biden's legacy will be that of RBG - your hubris handed the future to the opposition. These are dark days.