In hindsight was Saudi Iranian rapprochement a sham?
IMHO yes. The Saudis and Iranians have been fighting a dirty war in the Muslim world for a long time. The Saudis sponsoring groups like Al-Qaeda and Iran sponsoring Hezbollah. Just check what happened in Syria.
Why a sham? It was a normalization of relations which was and is a win win. Iran won by making sure that Saudi Arabia won't actively participate or allow it's bases or airspace to be used by Israel or US against it. That's a pretty big win imo
Saudi Arabian won by making peace with Houthis and Iran and being able to focus on economic development. That's also a big win.
Influence game will be more subtle and more underground, not the crude way of military attacks everywhere and disrupting peace and economic development
Win-win for these two countries and the region in general as where Saudi Arabia leads, most of the rest of the Gulf countries, follows.
It was never an alliance, just a normalization and restoration of relation, from war/aggression to peace between them.