In my opinion, I think that Frank the Phony is a closet atheist; for him, Catholicism is just another type of spirituality. Such a conclusion would go a long, long way in explaining his blatant blasphemies. I also think that he is a closet ɧoɱosɛҳųαƖ, perhaps even a pedo. As before, such goes a "long, long way" in explaining his behavior.
One thing is clear, however, and that is that Frank does not want a formal schism. He's trying to gently push the One True Church into the realm of liberal, deistic Protestantism, but he does not want the boat to fragment in the process. He's more than happy to leave we Traddies behind and just "write us off" as being cranks, which is why he is still trying to reconcile with the SSPX. Once (and if) they come on board, he'll simply try to "bust them up", get rid and/or silence their bishops, and fragment their priesthood. Their "lands and money" will come next; the "goal posts" will simply be moved and moved and moved until there is nothing left of the SSPX. As it is, the SSPX needs to "stand pat" and wait until a true Pope comes along or the Second Coming, whichever happens first.