I think it's extremely probable blackmail was the entire purpose of Epstein's entire operation. Whether he was a agent of some government or corporation. I think the intention was to gain a means of control over powerful people and to leverage their power and influence for whatever entity Epstein was employed.
Alexander Acosta straight-up admitted that Epstein was an intelligence asset and that he torpedoed the initial case in 2008 at the request of higher-ups.
Of course Acosta ended up as a member of Trump's cabinet, because we clearly needed yet another direct Epstein connection alongside Barr and Trump himself.