We spent countless hours reporting about how Iowa’s Democratic electorate longed for a younger, fresh-face candidate who could usher in generational change. We found out which campaigns had the strongest ground game. We walked readers through the state’s byzantine caucus process. Our colleagues chronicled local supporters’ lament that there was “no excitement” around Joe Biden’s campaign.

All of those things were important because of the belief that a winning performance in Iowa can catapult an underdog candidate to the White House. But that has happened only twice — for Jimmy Carter in 1976 and Barack Obama in 2008. Iowa’s power now lies in its nostalgia, while the Democratic electorate has become far more diverse than the caucusgoers candidates encounter in Iowa.

In the end, the race in Iowa this year was a contest to see who could become president of Iowa. Pete Buttigieg narrowly won, but we didn’t find out the results until after the epic fiasco that was the caucus counting process.

The things that mattered in Iowa — excitement, organization, money spent on TV ads, crowd sizes for town hall meetings — had next to no bearing on who eventually won the Democratic presidential nomination.

Mr. Biden, with Bernie Sanders dropping out yesterday, will be the Democratic Party’s presidential nominee against President Trump this fall. He never had the most money, never had the biggest crowds and never had much buzz.