Yes, i do thing that he uses this new type of religion just to express religious beliefs, so that the world, or his followers, can see what he believes in and change their views to his if he is smart enough to convert people. He is simply a religious leader.
Given the amount of time and training, not to mention faith, it takes to accomplish the status of Lama and the fact that understanding Buddhism as thoroughly as Ole Nydal does, I would have to say yes. I do believe Old Nydal uses Diamond Way Buddhism solely to express religious beliefs. Don't get me wrong, these centers and the books he has published have made him money, but he's not rich by any means.
In many ways Ole Nydal does use Diamond Way Buddhism solely to express religious beliefs but he has on many different occassions used it as a way to express his opinions of other religions and as a political tool. He has made the mistake of insulting the religion of Islam which pretty much goes against everything his religion stands for. He has even found his way in trouble with political figures from some of the issues he has expressed using Diamond Way Buddism.
Ole Nydal uses Diamond Way Buddhism to express religious beliefs and to lead others. Nydal is trying to spread the word of Buddhism for the masses in the West. Instead of keeping his spirituality for just his own improvement, he feels it is better to try to help heal others who are seeking fulfillment too.
No, I don't think he does it for just religious beliefs, even though that is obviously a large part of it. It seems to me he does it to spread the religion he loves, gain notoriety for himself, and possibly make a bit of extra money while he does it.