What's ironic about it is that he isn't that misguided or delusional--not when compared to anybody else who believes in religion.
He spoke incredibly highly of Mormon people and the Church organization, without qualification. His only problem with the Church is that he believes Catholic doctrine, not Mormon doctrine. That is his only problem with the Church.
His fantasy was to join the Church, actively participate, and actively seek opportunities to teach and preach within the Church, but only teach and preach the stuff he believed in, which happens to overlap a lot with what the Church already believes.
I think there are a lot of people in the Church that are like that--who are trying to steer it from within to emphasize what they like and deemphasize what they don't like. And the winner is the one who becomes Prophet and changes stuff from the top. This does in fact happen. President Nelson bided his time, and when he was finally in charge did it his way.
The guy in the video had (mostly correctly) noted that when talking about doctrine, many members get a little robotic. He was convinced that if he went in and taught about Jesus and the Atonement and so forth with his natural enthusiasm and charisma, it would really impress everyone, they'd feel the spirit, and he'd move into leadership positions. He thought that in 20 years, he'd join the 70 and then the twelve. Then when he became Prophet, he'd shed the doctrine he didn't believe in the way Nelson shedded the word "Mormon."
From my perspective, doing all that wouldn't be enough. He'd also have to really fit the role in terms of always showing up for all of the volunteer stuff, making people feel really secure about the faith--fitting in and being sufficiently orthodox in that way, but also being an exceptionally good manager and leader, and paying at least $50,000 a year in tithing, then he'd have a really good shot of at least becoming an area authority in 20 years. But in his fantasy, I think he severely underestimated how crowded it gets at the top.
In any case, where did the plan fall apart? It fell apart because in his fantasy, he'd never lie. He would do all this because he thought he could go through the entire thing with only talking about what he sincerely believed in--Jesus, the Atonement, faith, repentance, service, Love, etc., and that nobody would notice that he never talked about how much he loved D&C 132.
There were multiple weaknesses in this plan, and he could only see one of them. The weakness he saw is that there was one (and only one) baptismal interview question that he couldn't answer honestly. He felt the question, "Do you believe Joseph Smith was a prophet of God" left no wiggle room for him to honestly answer "yes." So he cancelled his baptism. That's the end of his story.
From my perspective, it is a self-deprecating story of an investigator who loved the Church and loved the people, but just couldn't swallow the whole enchilada. He had some fantasies about trying to change the Church, but decided against it. The End.