Setting aside the fact that Axelrod would probably be keeping quiet if the prospect of Romney as GOP nominee pleased him, there are several reasons his "analysis" is just plain silly.
First, barring a spectacular meltdown over the next five days, Romney is well-positioned to break through his supposed 25% "ceiling" of support in the New Hampshire primary.
Second, Romney has been competing in a more crowded field (without a designated "heavyweight" like Dole in 1996 or George W. in 2000) this year.
Third, note that -- at least in Iowa -- Romney was the second-choice candidate for most caucus-goers. That means opposition to him wasn't hard, and if those sorts of numbers hold up in other states, it means he's well-positioned to win over those who now support other candidates.
Finally, perhaps the number Axelrod fears most: In the most recent national poll featuring head to head matchup against President Obama, Romney scores well above 25%: At 45%, he's six points ahead of the President.