The difference between al-Qa'ida and Isis can be overstated: when Bin Laden was killed by United States forces in 2011, al-Baghdadi released a statement eulogising him, and Isis pledged to launch 100 attacks in revenge for his death.But there has always been a second theme to Saudi policy towards al-Qa'ida type jihadis, contradicting Prince Bandar's approach and seeing jihadis as a mortal threat to the Kingdom.But the change is very recent, still ambivalent and may be too late: it was only last week that a Saudi prince said he would no longer fund a satellite television station notorious for its anti-Shia bias based in Egypt.
Western governments traditionally play down the connection between Saudi Arabia and its Wahhabist faith, on the one hand, and jihadism, whether of the variety espoused by Osama bin Laden and al-Qa'ida or by Abu Bakr al-Baghdadi's Isis.
There is nothing conspiratorial or secret about these links: 15 out of 19 of the 9/11 hijackers were Saudis, as was Bin Laden and most of the private donors who funded the operation.
Coverage of Dearlove's speech focused instead on his main theme that the threat from Isis to the West is being exaggerated because, unlike Bin Laden's al-Qa'ida, it is absorbed in a new conflict that "is essentially Muslim on Muslim".
Unfortunately, Christians in areas captured by Isis are finding this is not true, as their churches are desecrated and they are forced to flee.
A difference between al-Qa'ida and Isis is that the latter is much better organised; if it does attack Western targets the results are likely to be devastating.