Earth X was a comic (lol) with one interesting idea — if enough people preceive "A" as "B", "A" becomes "B".
In the case of Trump, he despises the left wing camp for kicking him off Twitter and prosecuting him. As such he takes their nightmares that they believed in term one and makes them real as personal revenge. For an old man, it is no doubt the most satisfying possible end of his life possible.
Far fetched but more realistic than "He's being blackmailed". Do you really believe the man has any shame?
If he had no shame, he would have kept the money.
All of these machinations are, to me, an effort to avoid legal prosecution when he thought they could be effective against him. At this point, you could share the supposed piss tape and no one would care.