I could propose a bunch of theories.
Your conservative side deep state theory is definitely plausible. I find a liberal deep state architecture more compelling personally.
Discussion
The thing is that if the deep state doesn’t play both sides it doesn’t do its job. Do you think they are going to let it to the voters to decide whether or not they keep the reigns of power? Also, it’s not the first time #Trump is getting caught participating in a ds psyop. Qanon was exactly this and Trump participated in it via the Qproofs.