In all fairness, I don't think that the Republicans claim ownership of Palin. They just sort of rent her from the Tea Party and trot her out to impress the radicals. It is sort of like kids do today when they go to the prom, and they insist on renting a limo that holds all their friends. Adults look upon this as a monumnetal waste of money and can't imagine why it would impress anyone other than the Lincoln Town Car salesman, but the kids hold it to be absolutely necessary so that they do not lose face with each other.
Yep. There are definitely the True Believers (maybe, what, 25% of the party), those who really do think that she's Presidential material and believe the notion that the Democrats are "afraid" of her; but I suspect the rest of them know that her best value would be to just fire up the base, behind closed doors, preferably. She could have value if the party could find a way for her to somehow speak to the base without national exposure.
Problem is, that ain't her schtick. She's completely bought into the hype of the True Believers and wants to be seen by every voter in the country.
Conundrum for the GOP. But that said, my guess is that she won't cause too much damage in '14 and '16, we'll see. The Dems will certainly try to keep her in the spotlight.
.