So what does the National caucus do?
They could roll Bridges now and install someone else, but who? Judith Collins is an option. There's some public support but her colleagues don't trust her. Mark Mitchell has probably blown his chance. He's extremely affable but hasn't managed to make much of a mark with his regular media appearances. Todd Muller is highly regarded but no one outside of the beltway really knows who he is. All of the options are high risk this close to an election.
Then there's the question of the brand damage a coup would do. National's made a point of talking up its discipline and stability. A coup screams the opposite, especially this close to an election.
The alternative is to hold firm. It's a continuation of the conservative strategy that has left National in the pickle it's in right now. The party has hoped that voters would grow so irritated by the Coalition Government they would hold their noses and return National to power despite its unpopular leader. They took hope from the party's consistently high polling.
That strategy has just become a lot harder to have faith in. The party's now polling at least as low as 35 per cent in the UMR private polling and Brand Jacinda is at a peak. In a period where the PM is defending the incompetence of her government, it's possible to picture voters choosing Bridges over her if you squeeze your eyes tightly enough. But at a time when the Prime Minister is doing an amazing job of communicating, of taking the public with her and of drawing international praise, it's an impossibility to imagine voters choosing Bridges over Ardern, even if he leads the party of their choice.
Yes, these times of flux won't last. And yes, the Government will eventually have to answer for all the damage to the economy that it has unnecessarily inflicted with a too-restrictive lockdown. The lockdown might be justified, but total economic shut down and the length of it will come under scrutiny. Most likely National will bounce back and most likely voters will again believe the narrative that it is the party best suited to fixing a shattered economy.
Trouble is, voters might believe the decades-old narrative that National's the right party, but can they look past the wrong leader? The believability of this week's rumours says no.