The Supreme Court has turned Jim Bopp away, denying his wish to have the parties relieved of core McCain-Feingold restrictions. There could be any number of explanations. The Court may have no appetite at the moment for a major campaign finance case. Or, having chipped away at McCain-Feingold, the Justices may not be inclined to demolish its centerpiece. After all, if the parties are hurting, then Congress, its membership filled with party members and candidates, is perfectly free to take stock of their needs and do away with a legal impediment if necessary.

There is one other possibility. If the Justices are concerned with the condition of parties, and they’re relying on general commentary outside the court for their assessment, they would not have too much reason to worry. They would read that parties have found a way to adapt to McCain-Feingold. Various experts are telling them about energetic online fundraising and about more dramatic innovations, like the establishment of super PACs functioning as “shadow parties.” On this account, the parties are not in crisis. They are thriving. The furniture is being rearranged and renovations are ever in progress, but the basic party structure remains healthy.

This is a paradox of the reform battles of recent years: how the erosion in the Buckley regulatory framework might persuade the Court to leave alone whatever is still standing. What really is the scale of the problem, they might ask? The prime actors of campaign finance have been busily working around the law. The reform community, partly stymied by the courts, has not been able to do much about it. The FEC has gone into hibernation, and it emerges only occasionally to exhibit paralysis. As a result, the prevailing view is that the parties may be restive under McCain-Feingold’s strictures, and they are certainly disadvantaged in their competition with the “outside groups,” but they are not on the verge of extinction. In fact, so it is believed, they’re doing well enough, or at least better than expected.

The Wild West in campaign finance, with the regulatory process in disarray, has caused all manner of distress among critics of the role of money in politics. But they could be comforted by finding some measure of compensation in a long series of disappointments. The state of disrepair in campaign finance may have convinced wavering Justices that Mr. Bopp was crying wolf, and that the parties, like everyone else out there, are not in dire straits. Better, then, to keep the reforms at least on the books and save judicial intervention for more compelling cases.