For all that he's at least seen the tubes, Picard can't really say that he knows what to make of them. Or rather, doesn't quite know what to make of the fact that they're apparently how they arrive. He has some suspicions, yes, and it certainly adds a more ominous tone to the whole of their arrivals, but for the most part he's reserving judgment for the moment. There's no denying that the Observers have been trying to show them something, but what that something means past there being more at play... that's harder to tell.

(Even if it does have him more than a little concerned that the Cardassians might be involved somehow, and the thought isn't terribly comforting.)

He's not there when Wanda knocks on the door. Rather he runs into her at some point afterwards, and although it's clear that it's not something he'd expected, it's not a bad surprise either, and the expression on his face says as much.

"I didn't know you were back."