All I can say is, it's a weak pretext for whatever plan they have.
The Russian investigation team sounds like it's putting a strong case together and the release of the memo is yet another attempt to undermine it, which in and of itself tells you the White House fears the investigation.
It sorta hinges on the integrity of the House and Senate, and I wouldn't trust the House further than I could throw it. But I think the Senate folks sound honest enough.