First of all, calm down: Sarah Palin didn't say anything about herself and feminism (yet). But the phenomenon of Sarah Palin does say some things about feminism to a lot of people (including me).
Although Palin later recanted after calling herself a feminist and conservative women cheered, I — like other feminists — thought that was sort of an amazing thing. As Kathy Spillar told me in our interview, "The fact that Sarah Palin felt it necessary to identify as a feminist, after so many years of feminism being disparaged by conservatives, that was a win for us." Cath Elliot, writing for The Guardian sees it similarly: