FWIW I think that you may be right. It seems to me that those SERPS are the nearest to the pre Big Daddy situation. If I was a search technician at Google my objective would be to get the SERPS back to pre major infratructure upgrade first and then start to play with the algo.
They need to go back to pre BD situation in order to have some control and ability to predict algo changes. In effect what they have done is like driving a car onto a patch of ice, they have skidded all over the place and now they need to slow down a bit and get the car on the right side of the road.
I suspect that the flux that we have seen over the last couple of weeks has been caused not by them trying to alter the algo but more likely by them trying to get back to square one. In our niche there was nothing at all wrong with the pre BD SERPS so for us it would be a good thing to return to those (thank you very much guys).