It’s not about if that’s plausible, it’s about if it’s the most/only plausible explanation. In this case, it is not. There’s several scenarios where this could be a thing. Staging a blackmail being the most obvious one.

With that said, I still find it curious he’d have used that as a draft letter to himself. The only way that really makes sense, is if he knew his emails were being monitored, or that he’d have to turn over email evidence to the state or something like that. Otherwise, why do that other than just as a note to yourself (and admittedly, I’ve used gmail drafts for personal notes plenty before).

So, both seem plausible, but I will admit the “Bill did get an STI from an underage sex trafficked girl on Epstein Island and old Jeff made a note for himself in gmail quickly on his phone so he’d get back to it later when he had time” scenario seems more realistic.