He's playing a draw game and it's early in the hand. He can still swap a card or two for better ones.
As someone who plays exclusively Texas hold'em. I see it as a flush draw, needing one card with two to go.
You have a high chance at a monster hand that's hard to see coming. So you can both act strong, and bluff if needed, or act strong, and play it down after you get your hand baiting the rest of the way.
However if the turn doesn't go your way, there is still a chance, but if you get read and push hard on a one card draw you are pretty likely to lose half your stack if it doesn't go your way.
Right now he's got high odds at a hand that often goes unseen. We'll see what his next move is, and how the turn goes.
I can't fully read him yet after being so conservative lately, but we have the Duchene trade, and last season which was a weak ass play.
Maybe he's a Donkey, maybe he's Phil Hellmuth.
Ps.. I hate that dude, still not sure if he's actually good at Poker or not. But you can't deny results lol.
Moved from a 1 to a 2 though as GM, and could jump to 4 or 5 depending on his next moves.