If she does run, she needs to throw caution to the wind, and just be herself. Show the finger to those accusing her of playing 'identity politics' by doubling down with an all-woman ticket (Elizabeth Warren as VP would do nicely), and she can't do any worse than she did last time.
The thing is though. Identity politics ISN'T who Clinton really is. Identity politics is just what she was using to sell herself to the left. What Clinton really is is a moderately hawkish, fiscally conservative, socially liberal technocrat. In the 90s, the Clinton's were anything but identity warriors. They were about law and order as much as Trump is, with Bill's Sista Souljah moment and Hillary's superpredator speech. She's not a true believer in this SJW crap (to her credit).