A Latino is a must.
Biden already has black support and he can get Kamala and Obama to campaign for him. He lacked Latino support in the primary (relative to Hillary) and needs to be aware of this weak spot. If Biden loses, it will be because he doesn’t listen/takes-for-granted Latino voters in the same way Hillary ignored some of her base.
Does an English-speaking half-Italian Senator whose paternal grandfather happened to immigrate from Mexico solve that problem?
Does a half-white guy who grew up in Hawaii with his white grandparents from Kansas appeal to blacks?
Yes. America is rooted in the one drop rule and most blacks know they likely have at least a small amount of white in their background. Obama considered himself black, married that way, and spoke that he was considered black when people saw him on the street.
Latino identity isn't quite so clear and probably more about language, which makes thing problematic for her, And Trump is the kind of person to mock her on her Spanish. Having said that, I do think she will help somewhat in the Latino vote (I'm assuming there is nothing in her past indicating that she is running away from the Latino part of her background) though I dont see a huge spike based on her ethnicity.