I'm not suggesting it will try and bypass the stop button. I'm saying it will try and manipulate you into approving something you wouldn't otherwise. And yes, you can read some of its "thoughts," but it knows you're reading them, or it can determine that through trial and error. And then it can start subtly manipulating those recorded "thoughts" to make them sound different from what they really are.
AI safety researchers for years have been pointing out that adding a human to the loop is no cure for this problem. The human then just becomes another thing to be manipulated, another barrier to be overcome.