In the fourth season of the show Walt is largely under the thumb of drug over-lord Gustavo Fring and so therefore is given little space to breathe. In this monologue though we get an insight into how he now perceives himself. Despite all of the setbacks he has in the fourth season, in his mind he is still the danger. This monologue demonstrates how completely and dangerously out of control Walts ego has become at this stage in the show and also demonstrates how detached from reality he is becoming.