What do the hypocrites intend by claiming that they are "muṣliḥūn" (peacemakers, those putting things right, etc.)?

Imām Ibn al-Jawzī (d. 597/1201) summarized the scholars' opinions in his book "Zād al-Masīr" as follows:

1. It expresses their denial of what they were known for. The meaning is: "We have not done anything that necessitates corruption." [Narration from Ibn ʿAbbās]
2. "We intend to bring reconciliation between the Muslims and the disbelievers." [Another narration from Ibn ʿAbbās]
3. They meant that forming alliances with the disbelievers was reform, not corruption. [Mujāhid, Qatādah]
4. They considered their actions to be reform, while believing that believing in Muḥammad (ﷺ) was corruption. [Al-Suddī]
5. They considered from a worldly perspective - not a religious perspective - that aligning with the disbelievers was beneficial, because they believed that if Muḥammad (ﷺ) prevailed, they were safe by pledging allegiance to him, and if the disbelievers prevailed, they were safe by allying with them. [ʿAlī ibn ʿUbayd Allāh]