Dax already made fun of Ralph a few times after the first Metokur beatdown, Rekieta was at his place/studio and they laughed and made a bunch of jokes at Ralph's expense, it wasn't just Nick doing it, Dax too.
Not only that but WATP made an entire episode about Ralph. It was during the period where half the internet was making fun of Ralph and he didn't say anything about any one of the people that humiliated him.
From a pure business point of view, a relationship with Karl/WATP is way more beneficial to Dax than one with Ralph, same with Rekieta who had his gigantic streams during the Rittenhouse trial and is now getting close with the people at the Blaze.
Dax is not going to burn bridges with any of these people for Ralph, but Ralph will go after Dax for it.
Like everyone else, my guess is that Dax will try to "ambush" Metokur with Ralph, but I do think he knows Metokur will clean the floor with Ralph once again, he's probably even counting on it happening.
I think he knows that deep down that the real "ambush" is for Ralph, because no matter what, he won't be able to win that encounter (especially if he's not able to mute and lower the other person's volume which is the only way he can appear to dominate the conversation).