Bergoglio is actually rather smarter than he looks, well, than he actually is (calling Traditional Catholics "Pelagians", clearly having no earthly clue what that means). Must be Tucho working the strategy.
So Jorge can't approve the consecrations without reservation, since he'd be giving open license/approval for Traditional Catholicism ... which he's actively trying to suppress, and such inconsistency would unmask his treachery, where people would know that "something's up", since why would he suppress the Motus while endorsing SSPX?
On the other hand, he doesn't want to drive out from the SSPX the massive numbers of Novus Ordite infiltrators that flooded into SSPX chapels from the shut-down Motarian venues.
Initially I wondered why he would want the Motarians to escape to SSPX.
Well, of the Motarians, let's say half go back to Novus Ordo after their Motus are shut down, but half, or maybe it's just one quarter, go to SSPX.
Why would he want the numbers of the SSPX bolstered like that?
Well, people here on CI are reporting how their SSPX chapels can barely be distinguished anymore from any Novus Ordo church due to the influx of the Modernist ex-Motarians who went there just because they like the smells and bells. In other words, their presence there appears to be poisoning the formerly-staunchly-Traditional "culture" at many SSPX chapels. And the SSPX clergy are likely under strict orders not to scare these types away, since the absurdly-imprudent building projects of the SSPX pretty much require the extra collection money brought in by these ex-Motarians. So the sermons will be watered down, for that reason, but also so as not to irk Bergoglio (at least ostensibly). I've heard from Novus Ordo presbyters that their bishops don't let them preach about various subjects like birth control because of the financial impact it would have if many left. I believe the same thing is going on now with SSPX since they're up to their eyeballs in debt.
So, the presence of these types has been poisoning the Traditionalists as well, even if just subtly, to the point where the SSPX can more easily lure them toward the Conciliar Church with a "boil the frog" approach, one little step at a time, until the SSPX will awake with a groan one day to find itself Novus Ordo (to paraphrase St. Jerome regarding the Arians).
So the influx of some percentage of the Motarians into SSPX have served the purpose of facilitating, like a catalyst, the transformation of SSPX into a Modernistized shadow of its former self, for eventual full assimilation into the Novus Ordo Borg collective.
If he were to excommunicate SSPX, he'd scare these people away prematurely, before they could have accomplished what he wants them to there. At that point, the remaining Traditional Catholics might circle the wagons, regain their orientation, and demand the same of the SSPX clergy.
Episcopal Consecrations might also allow them to sneak some more infiltrators into the SSPX leadership, and possibly even doubtfully-ordained bishops to compromise the validity of their Orders. I believe that Huonder had been the one designated initially for this mission. They acclimated the SSPX followers (some of them anyway) to accepting Huonder Holy Oils. Next step might have been Huonder "ordaining" some priests, and then in turn one of these Huonder-ordained priests would be "consecrated" dubiously, and wreak further havoc. But God had other plans and took Huonder, who now lies at Econe near +Lefebvre while +Williamson will undoubtedly be spurned.