The only people unironically entertaining the possibility of a "1912 redux" in the event that Trump were to run as a third-party/independent candidate are hardcore Democratic partisans/hacks who have shockingly little understanding of how poorly an emasculated, whiny loser like Trump would perform among Republican/-leaning voters in a competitive general election between Biden and an actual Republican challenger, esp. a competent one like DeSantis.
Stop creating these ridiculous caricatures of Republican primary voters and get some fresh air.
It won't be a 1912 redux in the sense that Trump does better than the Republican nominee but if you can't see that more than enough Republican voters will vote for Trump and throw the election if he's on the ballot then it is you who believes in a false reality of who comprises the Republican electorate. And with all due respect, you predicted a Bolduc victory in New Hampshire. I'm not trying to be mean (I like you, after all) but you shouldn't immediately jump back to the assumption that your understanding of the American electorate is superior to other people on this website.