Did Tessio really think Tom could get him off the hook for old times' sake?...
He didn't. He knew he was caught, and was getting what he had coming. He also knew it was 'only business' just like what he had planned for Michael.
But he has absolutely nothing to lose at that point...and when you know you are literally moments from death...you may as well come up with even a half-hearted plea for mercy, no matter how useless.
Tessio caught on immediately, and in the end took it like a man. Thereby NOT disproving the 'Tessio was always smarter" concept.
Apple