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I am interested to see what her long-term strategy is here as well. While there are certainly a lot of things to improve in the Democrat party, I don't think enough would change / happen by 2024 to give her a realistic shot at winning the nomination.

It has crossed my mind about her flipping over to Republican party, but as you noted I think she has an even larger uphill battle there given where HI is at today. Going the Independent route would seem like the most likely of these three, but again that is a huge hurdle to clear (and that is assuming that something crazy doesn't happen like Trump trying to run if the Republican party turns on him).
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