I like to think of it a tad differently. I believe that the protection of the Holy Spirit is invoked at the openingday of any conclave and while He doesnt pick one particular pope hes there to make sure the pope2be will not demolish the church.
Its kind of a Godgiven limitation to what a pope will be able to do wrong in his pontificate.
IF some fractions of the cardinals have made pacts and other arrangements (as some believe happened at the 2013 conclave) then Im unsure how to believe about the protection of God.
I mean JPii told that any such campaigning would ipso facto excommunicate those involved which would under certain circumstances mean that the elected pope could be under the penalty of excommunication at the time of election leaving him unfit and not papible.
Well...
Who knows. Under normal circumstamces I believe its a guaranti against demolishion most of all.