I think it’s quite intentional that Palpatine creates the illusion, or phantom, of menace to Anakin and the Senate, then positions himself as the only one who can protect them with some vague promise of power or security. Both parties take the bait and end up hopelessly corrupted. It’s a brilliant bit of parallel storytelling.

Or it would be if it was handled with any sort of competence. Execution is everything, and instead of working like a Shakespearean Tragedy it lands like a wet farce.