They're playing around with Walt had cancer and lost his head and made some mistakes and now he's just trying to defend himself, I guess. The idea being that they can show his descent into villainy. What they showed previously was a guy who was broken by the fear of dying a failure instead of partner in Gray Matters and took reckless chances because he was determined to finally win. And he became a villain. Further descent into villainy is gilding the lily and making it because he's just got to save himself from nasty old Fring undoes what's already been done. Plus, plotwise, he still has his ricin recipe. Fring shouldn't have a prayer, especially if Walt rationalizes not worrying about innocent bystanders.
Jesse in a strange way still has a kind of integrity left, so what should be left is showing Walt's final undoing of Jesse, whether it's selling him out to Fring or sending him into a trap or whatever, because Walt's a Bad Dad who screws over his own "son." Walt, at least the real Walt (as opposed to stall the plot Walt, like the loopy guy who wasted half of last season spinning his wheels,) deeply, deeply resents Walt Jr. But the revelation of this should be the climax. Besides in Hollywood, CP isn't sexy.
As usual, absurdly twisting the plot and inadvertently undoing the theme and reversing character development is the price of open ended serialization.