Sarah Palin’s PAC released a new video today featuring lots of footage of her travels around Iowa. A lot of people are wondering whether she did this to keep speculation alive that she may still enter the presidential race.

But it seems like the real point of the video is to make the case that she should still be seen as newsworthy in her current role, even without being a presidential candidate.

After all, one of the dominant themes of the video is that she still attracts lots of media attention, and that’s held up in the video as a virtue in and of itself. The video features no less than half a dozen shots of her being mobbed by reporters and cameras. It quotes more than one anchor gushing about her ability to command media attention. One gushes:“There were hordes of media around her, but she wanted to answer my questions!”

All this, coming from the same person who was the Veep candidate on a campaign that endlessly lampooned Obama as a “celebrity”:

I obviously don’t have any idea what’s going on with Palin. But I don’t take this as a sign that Palin is trying to keep speculation alive that she plans to enter the presidential race. It seems more like an effort to bolster the case that she’s worthy of continued media attention in her current role of celebrity-quasi-candidate.

As Dave Weigel says, it’s the ultimate effort to manipulate what she herself derides as the “lamestream media.” Even though Palin is not an elected or party official or even a candidate for public office, she has successfully carved out a role as a politico-media phenomenon. That’s newsworthy in and of itself, so we should keep covering her — and continue inflating her status as a politico-media phenomenon for ever ... and ever ... and ever ...

UPDATE: To be a bit clearer here, this video seems like it’s all about reasserting her relevance and newsworthiness in the current role she’s carved out, at a time when the process is rapidly leaving her behind, rather than about stoking speculation about any future plans she may or may not have.