I don't think I've ever explained why Richard Spencer acts like this weird Racist Liberal now that makes him act like a Biden/FBI shill, but I have alluded to it before where I theorized that Spencer is basically pretending to be retarded.
Spencer is pretty much your average rich high school jock that gave kids wedgies in high school. He comes from a wealthy family, and does have a Bachelors and Master Degree and would have gotten a PhD if he completed it. Even before the Alt-Right, he's done editorial work at magazines and pretty much did Alt-Right in thinktank work. So I don't think he's this god-like intelligent person but he isn't a complete retard like others in the spectrum, he's just a mid-intelligent jock that got lucky he coined the term "Alternative Right" and assumed he was the one who's gonna lead some movement because it just so happened that Blue Checkmarks are fucking stupid and brainstormed a label for Right Wingers that weren't your common Right Wingers.
Anyways, fast forward to the present. He's obviously not relevant in the Alt-Right (which itself is pretty much irrelevant and non-existent as a cohesive identity) at all. Nobody really pays attention to him or follows him or really likes him beyond Fivepercenters and the "Apollonians". He had his moment, he fucked it up or got fucked, and now he's just out there just doing irrelevant shit. TRS and AF are more relevant and popular than him.
Which brings me to my theory. I don't think he's a Fed because why would the Feds make Richard an asset if he's irrelevant, brings no big audience like in 2017, and is already subjected to being attacked by a actual Federal asset known as Milo Yiannopoulos. The FBI have better people to infiltrate and blackmail like Nick Fuentes than some LARPer that beat up his wife and spouts inane dialogue. If he's this complete Libtard Democrat shill he would be like Matt Heimbach who's now a Deradicalization agent, Richard says stupid shit but it's dumb esoteric nuanced takes of stupidity, it's obvious he still has Alt-Right tendencies and hides it.
I think it's all a work, I think Spencer knows he's not relevant. I think he knows he's not going to get any social climbing in this scene as of now. So what he's going to do is pretend to be a retarded Racist Liberal (and act like a polite troll to piss off people in the Right as a fuck you to everyone who he thinks ruined him). Doing all of this polite shit is just a gimmick so he doesn't break the rules and get banned from Twitter (which is working for now since he and his followers have escaped the recent purges). If/when groups like AF just implode and others like TRS don't gain popularity, all the while internet censorship fucks everyone over, Richard will return to try and swoop up the remnants of what imploded four years ago.
Don't know if it will work, because again he's a well-off semi-intelligent jock that makes mistakes because he's a jock, but it's his only plan if he's ever going to be the forefront of a movement again. Because that's his only way back, waiting.
tl;dr he's an asshole, not stupid.