She could, anything is possible.
I used to believe in the adage that if your candidate wins, they are never as good as you thought they would be, and if the other candidate wins, they are never as bad as you thought they would be.
That worked for me, up until the presidency of GW Bush, bad beyond my worst nightmares. I now see that this country will elect nearly anyone, given the support of the right wing propaganda machine.
I have really low expectations for Palin. If she ever wins, and does even worse than my expectations, we are in a lot of trouble.