Yeah, you are partly right. Had the government fallen, Mayavati would have emerged, at least in public perception, as the main alternative to the Congress-led coalition. So Mr. Advani should be relieved on that count.
But, now what if the tide begins to turn against the BJP in, even, Karnataka? Inflation is likely to ease, as the lag time for monetary policy is almost over, and in a couple of weeks, the inflation rate should be off the peak. And, even more interestingly, oil prices are now at their six-week lows. If the crude oil slide continues, and the government were to initiate even token reforms, the expectations part will pull out the economy from its current phase. In fact, expectations about this expectation factor is already playing out in the stock market. If the feel good factor returns, and the Congress propagandists succeed in convincing the people that the bad times were because of the Left, you wouldn't know which way the political wind will blow in 2009. Perhaps, who knows, Advani may remain as the PM-in-waiting.
