I think it was [another] lost opportunity

Fredo was blindsided Fredo had no idea
  • Vito was semi-retired
  • Michael was in charge of the family business
  • Michael's real reason [buy Greene out] for the visit

However acknowledge risky as Fredo could have blabbed to Greene and the surprise element would have been lost

It seems to me Fredo taking sides against the Family was not addressed by Vito nor Vito had a Garden chat with Fredo as to -
1. Why Fredo was being stepped over
2. That's the way Pop wanted it

Quote
Vito, why don't you tell that nice second son of yours -
1. I love you with all-a my heart!
2. Have faith in my judgement
3. Michael has my blessing
4. be a friend [and brother] to Michael, his wingman

If you don't, you'll break my heart -- you'll break my heart