WI: Kaiser Wilhelm dies early, Crown Prince Wilhelm runs for Reichspräsident in 1932

During the tumultuous late Weimar period in 1932, Crown Prince Wilhelm considered running against Paul von Hindenburg for the office of President as a right-wing candidate. However, he did not, as his domineering father ordered him not to.

But what if the former Kaiser died sometime before, thus freeing the Crown Prince to do as he pleased, formally entering the race.
 
Would Hindenburg even run against the (former) Crown Prince? I could see him endorsing Wilhelm, along with most of the right-wing, who might unify behind him as their candidate. I could also see Wilhelm getting the support of the major democratic parties, as was the case with Hindenburg IOTL, if only to prevent Hitler from being elected. Then again, it‘s quite possible that he won‘t get the support of the SPD, who might (correctly) fear that he intends restore the monarchy.

However, if he runs as a unity candidate, his election would be all but guaranteed, and I could see him eventually pulling a Napoleon III by declaring himself emperor a few years later (probably following a referendum). The question is if he would offer Hitler a place in the government. If he intends to restore the monarchy, then it would make sense for him to include the Nazis at least to a certain extent, in return for their support for him being declared emperor. They are the largest party on the right, and their support might be crucial.

But the only way Hitler would agree to this is if he gets named chancellor. I can‘t see him accepting less. I could see Wilhelm going for it, since he probably thinks he‘ll be the one in charge. And he might well be right. Unlike OTL, where Hitler was able to assume absolute power following Hindenburg‘s death and had the armed forces swear their oath to him, in this case the army is likely sworn to Wilhelm, who unlike Hindenburg is neither senile nor dying anytime soon, and would remain head of state.

How a monarchist Germany with Hitler as second in command would look like is anyone‘s guess, but I think it would bear more resemblance to the various authoritarian governments of southern and eastern Europe during this period than its OTL counterpart. I‘m not sure if the western powers would be more or less hostile to this Germany. I think it could go either way.
 
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