I think he still ends up selling for the cia. I took this episode more as showing that certain people are just destined for certain things, no matter what reality they're living in. I like how they left it open for interpretation though.
I think your right,more importantly a "slave" to the CIA/system. I think the speech Cissy gives before he wakes up is important too,and what causes Franklin to come back to the game. In the alternate reality she's giving him a speech about staying and fighting at the school,using the system against itself,so he can get a good job and come back to help South Central. At the end of the show Franklin basically says whats done is already done and ain't no going back to B.C times(before crack). Ain't no going back to an alternate reality where he is a "slave" for the system at this point because he doesn't fear the consequences of the game. He has to "stay and fight" in this reality that he created. I think the Cissy speech really nailed it home and bought him back from the dead figuratively.
Also notice she said she had the same convo with his father,who's reality was much like Franklins alternate reality and real life reality. Pops tried to go along with the system by joining the military and doing "the right thing",felt betrayed,and fought against the system with the Panthers. Only to then feel betrayed by the downfall of the panthers. Basically feeling betrayed and giving up on doing either and becoming a bum,which led to his demise and the system killing him anyway. We see Franklin in the same predicament in his alternate reality,feeling betrayed after working hard and trying to do things the right way. We see Cissy give him the speech but its already too late,in reality he's been "betrayed" by the crack game and now has to make the same choice his father made. He can stay and fight,or be angry and bitter and let the system end up killing him anyway. Its poetic that his father is also the one there when he comes out of the ice bath.