The weird thing about Corbyn's continued limpet like attachment to the Party leadership is that it is difficult to see where it sees itself going.
Bevan's maxim "Never underestimate the passion for unity" still has considerable traction, indeed it is effectively Owen Smith's entire campaign strategy. But, equally, we cannot expect that that passion to be shared by those Johnny come lately "conditional" members and supporters who Corbyn has undoubtedly already rallied to his tattered flag.
So Corbyn's survival is a very real possibility. But to what end?
There is no way back for the 172 resignees. They could not possibly remain collectively on the back benches and then face their local electorate come a General Election in the position of encouraging confidence in a candidate for Prime Minister despite having publicly declared no confidence in the same person's inability to be (even) Leader of the Opposition. That is of course assuming they hadn't been reselected in the meantime.
The Party would inevitably split. In a much more significant way than in 1981.
And that split would start with many more advantages than the "Gang of Four" had then. Not just in the number of Labour MPs it would take with it.
Tribal voting is much less of a factor thirty five years on. In 1979, as Labour lost, 36.9% of the electorate still voted Labour. In 2015 that figure was a mere 29%. But, just as significantly, in 2015, the Tories actually WON the election with a smaller proportion of the the electorate than that which had led Labour to defeat (by a margin) in 1979. There are a lot of unattached voters out there and Scotland shows that even life long loyalty can prove to be anything but given the right set of circumstance.
Money is also much less of an issue. Labour in 1981 retained a considerable advantage over any pretender to the title of, at least, principal opposition through the guaranteed income from the Trade Union link. Since then, not only has Trade Union money declined as Trade Unionism itself has declined but Party funding has also moved more generally on, not just in relation to the relative importance of "Short money" but also in the willingness of well to do individuals to intervene, for philanthropic motivation or otherwise, in the political process.
And there is even a "cause" in the way the SDP never really had a cause except by way of a general disgruntlement with the Labour Party. That cause is Europe and more broadly an embrace of, rather than a retreat from, the modern world. If not the EU precisely then certainly the EEA or, better still, the "special associate" status being discussed in some German quarters.
You can see such a project, embracing the Lib Dems, and dependent on the right surrounding circumstances and leadership, getting to 30%. Not enough to win but probably enough to finish off Labour.
But, oddly, that's not really my point.
For my point is, to go back to where I started, what would the prospects for RLabour (to borrow an adapted phraseology from the Scottish Independence campaign)?
We would still have assets. Firstly, and not unimportantly, the brand. The brand means quite a lot to some people, me included. It might be ridiculous, sentimental or whatever but I'd find it quite difficult but to vote anything but Labour. You can relatively easily see Tony Blair or Kezia Dugdale endorsing the new Party project I outline. As the former famously said, to his one time reassurance of the wider electorate, he wasn't born into this Party, he chose it. The latter, at best, only ever had it as a second choice. But Neil Kinnock, Gordon Brown and so many, many, less prominent others now serving as Party Officers, local Councillors or even (just) humble door knockers ? They were born into our Party. They would find it very difficult to belong to any other.
And secondly, it is undeniable that to a certain constituency: public sector trade unionists; that part of the very poor who are politically engaged at all; young people legitimately motivated by generational inequality, Corbynism has a genuine appeal. A Coalition of the Angry as I have previously described it. The 18% who expressed the preference for Corbyn over May as Prime Minister in the recent poll are presumably these people. Even stripping out those faced with having to make a binary choice and those who simply don't know that much about him, there is probably still a core Labour/Corbyn vote concentrated in what remains of our heartlands, South Wales, South Yorkshire, The North East, Lancashire, the industrial Midlands, Inner London. Assuming at least that UKIP don't point the anger of the coalition of the angry in an entirely different direction, as they undoubtedly partially did on 23rd June past.
But lets again return to where I started. Suppose Labour somehow scrapes vote to "victory" over any new initiative? So what? We might have won the battle for the minor places but Mrs May's carefully centrally positioned Tories would still be holding up the Gold medal and belting out the National Anthem.
And eventually, if not after the 2020 General Election, then after the 2025 one, or at least the 2030 one, Labour would either finally die or realise that we need to track back towards the centre in order to win. And that no number of rallies or marches was sufficient consolation for failing to do so.
So I finish with the question I started with. What, even in his own terms, is the point of Corbyn surviving?