He expected the Japanese to return the favor and start a war in the Far East. This would have denied USSR use of the Siberian reserves that played crucial role in the battle of Moscow and quite likely would have led to winning the war against the USSR. Thus, two fronts for USSR but not for Germany.
The Japanese did not bite.
Stalin’s spies in Tokyo told him the Japanese were not going to confront the USSR so Stalin sent over 500,000 troops west to reinforce the Eastern Front. German intelligence picked up on that.
So if it made sense, it only made sense for a very short time and was a stupid gamble from the start.
And after Hitler declared war on the USA he knew they would eventually invade Europe, not join the Russians on that front.
The North Africa and Italian campaigns drew off critically needed German forces away from the Eastern front.
Ror many reasons Hitler was a bungler of the first degree.