No it doesn't make sense. Why does he have to manipulate everyone into manipulating everyone else? And his plans basically require manipulation of someone's life to such a degree of precision that it shouldn't be possible (not to mention the fact that this manipulation precision chain goes on for another 3 or 4 people).
He manipulated an entire clan to do so originally but then found one that fit person that perfectly aligned with his goal. He then likely deceived him from there. Madara deceived others but it seems that Zetsu was doing stuff to guide it in the direction he needed until he could strike. It was Zetsu manipulating it all with minor touches and using Madara's own ambitions since it aligned.
Furthermore, Madara's resurrection no longer makes any sense. If Madara was pulling the strings, it makes sense - Madara would want obito to resurrect him. Madara would want to become a god. But if Madara himself was just a pawn, then all that matters was that someone awakened the rinnegaan. Either Obito or Nagato could have resurrected kaguya, so why'd zetsu go out of the way to make sure it was madara?
How does it not make sense? Madara wanted all of those things and that doesn't change with this revelation. He was subtly manipulated and thought that his master plan was for him but there was one more step in it and it wasn't for Madara himself but someone else.
And why not Obito or Nagato? There are several reasons.
1. The plan started long before Obito or Nagato was born.
2. They still had preparations to do by the time Obito and Nagato were players in it all, namely acquiring the necessary tailed-beasts.
3. When they finally did get everything together, Obito was a half-dead corpse and Nagato was already dead. The tricky part here is that Madara was dead but broke the Edo Tensei to come to life again just after all the Beasts were collected and after Obito basically kicked the bucket. Remember, they collected the Fox Chakra from Naruto after Obito was taken down and Zetsu was holding him "hostage" more or less
4. Madara is a ridiculously powerful Ninja on his own as shown in the fights.
If Madara was dead but had brainwashed obito to being his pawn, the convolution of things makes sense. It may even make sense that Kaguya corrupted Madara because her evilness/essence/whatever is just that powerful.
Madara DID die. Remember? They showed hiim connected to the Mazo and was prolonging his life for the longest of time. He manipulated Obito to do his work but then really kicked the bucket. He then got Edo Tensei'd and ended up breaking it to come back to life properly.
Also, how the fuck is he alive? From the sounds of it he's been around since just before kaguya was sealed, which was like thousands of years ago.
I assume you're referring to Zetsu? He seems like a chakra parasite or something and has to live on hosts. So living from host to host means he can live on for ages. Remember, the tailed beasts grew up as well after many hundreds of years too so super powered chakra beings aren't the same as regular humans.
As I said, it looks confusing but if you lay it out properly, it makes more sense and is easier to digest. Doesn't stop all the reveals from being a trainwreck but it doesn't mean it's incomprehensible.