I also still don't quite get why Emma is with the Cabal. She has to know they are obviously villains. She hasn't really been one herself for over a decade real time, since she founded GENERATION X. Siding with the bad guys just because they happen to be in power at the moment has only failed every single time it has been done in recorded history. They don't have the few remaining mutants' best interests at heart. They're all too powerful for Emma to manipulate in any way to her benefit, aside for maybe Namor, who is basically just muscle at this point (and switches from heel to babyface more often than Triple H). The Hood has Dormammu at his back, and everyone else is beyond her.
If anything, "The Cabal" is basically, "Loki, Dr. Doom and Namor forming a collective to wait out Norman Osborn's fall from power to immediately fill the vacuum while convincing him they are allies, with Hood and Frost as arm candy/pawns". Granted, I haven't read a lot of Bendis' material lately.