Spoiler alert. Stop reading if you haven't seen the most recent episode and don't want to know anything about it.
Nope. Don't think your theory holds water or any other liquid.
Walt a "mastermind"? You shitting me? Walt is typically a step or two behind. He doesn't plan or plot -- at least until he plotted to kill Chicken Man -- he typically only reacts. For the majority of four seasons he flailed and thrashed and bumbled his way through every situation, making rash decisions on the spur of the moment. The only planning he's been capable of is the decision to manipulate Jesse and gain his loyalty by poisoning the kid and putting it on Chicken Man and the (completely illogical and unrealistic) scheme to use the old guy from Oz to waste the Chicken Dude.
No way in hell he's found a way to manipulate the DEA.
I didn't dislike the episode, but the character actions are suspect. Forgive the Sopranos reference bitches (although I feel better making it having read Gilligan compare Walt's character to Tony in a recent interview), but this sort of feels like Sopranos Season 6. Things get swollen and almost caricature-ish as the plots stretch the bounds of believability.
Skyler wandering into the pool? Fuck that cow. Wish she'd drowned herself. Her horribly shitty acting, her fat ass and pinched up face destroys what's actually a pretty good performance by Cranston. He just can't get the right tone of controlled fury when he's having to interact with that sea slug whore. I hate her.
Hank "knows"? Horseshit. Like Walt, he's two or three steps behind, blundering through the investigation.
This episode illustrated Walt's complete conversion to the other side. Whatever humanity he had left is gone, he's fully immersed in the life. And completely (completely) unaware of just how ill-prepared he is to survive it.
He's escaped all these situations before mostly by sheer luck. Some of the escapes were absolutely ludicrous BTW. He's still around due to serendipity and mistakes that for skill.
Jesse, who wasn't supposed to survive the first season, is the last chance for redemption.
You're all overthinking it. The show isn't that complicated.