Cali alone has one of the best economies in the world, it's fine. The problem isn't the state, it's that people outside of California grossly overrated the appeal of Newsom. He's not winning jack shyt. Everything about his political mannerisms and habits simply don't appeal to people outside of the west coast.
The way the party is moving, and the type of states that vote earliest in the primary, suggest to me that IF a governor wins the nominee in 2028 it'll be a Midwest one. Specifically, Gretchen Whitmer or JB Pritzker. Both are very popular, have been very successful and don't have ties to DC.
I will say this though...just from what I've seen and heard working in the finance/banking realm...Wes Moore is a dark horse candidate. Money people like him, he has the military background, black family....he's just gotta avoid landmines in Maryland and do well. If he does, he can make noise too. I could also see him waiting instead of jumping in for 2028.