"This," he says with a wave of his hand, "is currently the plan."

Lounging by the pool is the plan. Eating ice cream is the plan. Letting Stede continue to host a crew is the plan. Ed...doesn't have a plan.

"Can't just kill the captain, not by normal means," he tries to explain. Mutiny is typically about killing the captain, or marooning him and leaving him for dead. But how do you oust a captain you can't kill and probably can't just kick off the boat? If one were to believe the rumors of demons and magic, he might well be tied to the ship itself. Maybe they could imprison him, but how? "Apparently it's been tried. But if he wants us to kill each other, then maybe the plan should be to do the opposite. Dunno, giving it a test."

Which he knows Izzy is going to scoff at. It's a stupid plan that relies on believing the fuckery going on around them, but it is currently the only concrete plan Ed has. As he told Stede, he's not entirely sure mutiny is achievable.

Not in the traditional sense. So maybe they have to think outside the box. It's still mutinous if you just don't do what the Captain tells you.