What I see the Blue Dogs and conservative Democrats doing generally is committing a kind of ritual suicide that would make the Japanese aristocrats proud.
Here's what could well happen: They will manage to prevent any real change. Conditions will get worse under democrats. People in general will start to look around and ask themselves why should we vote for these assholes again. Republicans will be voted in with the social conservatives with real power this time. America will make (if I may mix my historical metaphors) Italy of the 20s look progressive.
Now if only being right would pay the bills.