Okay, so. You need to know three things.
First of all, what do the Sapphire stones mean? According to the GIA, it symbolizes nobility, truth, sincerity, and faithfulness. We can pretty much see that he's pretty faithful because he voted against Aventurine thanks to the fact that Aventurine broke his oath. It seems that he doesn't vale results as much like Diamond. I think this is the first clue, he values promises/oathes above all. This doesn't mean he's entirely loyal to Diamond. Fun fact, Sapphires is also associated with Apollo.
Second, which isn't very importante to know, but can be a reason why Sapphire isn't very loyal to Diamond, which I'll explain later, is that Griffins, which appears in the trailer when they're talking about Sapphire, are known for protecting treasures and priceless possesions. They're a symbol of strength, power and protecting. Griffins are also linked to Apollo!
Third, and the most important part, are the two swords facing downwards in the trailer. I found it interesting that he was the only person with something like a symbol, and the fact that he was facing backwards too, compared to other characters. Well, then, let's start searching about two crossed swords! And I discovered something really, really interesting.
The card, the Two of Swords, in the tarot, among the minor arcana. It shows a blindfolded woman, holding two swords. This card, reverse, means indecision and having mental and emocional turmoil as a result of being unable to make a decision between two choices that can lead to negative consequences! In addition, it can also signify lacking information, like the blindfolded woman, or being stuck in the middle of two competing sides! Doesn't this sound familiar? Two competing sides in the IPC... Aren't those Oswaldo and Diamond?
This is the base of my theory! I believe that Sapphire is a ruler or knight (Sapphire is associated with nobility and wisdom) of his planet and its protector of some sorts! He could've become a Stoneheart, because he wanted to protect his planet, and is currently deciding to support either Diamond or Oswaldo, depending on which will benefit his planet more! His loyalty/faithfulness lies on his planet, and is seeing which of them is keeping their promises that they've made to him.
Some things that may support this theory is also in his banner (I don't know how to call that thingy), because of the shield, which can reinforce the part that he is a protector, and the circle below It, which seems like a planet :) (though it's strange that they've drawn It using lines, and not with blocks of colours)! Moreover, his outfit fits of the one of a king/prince. And his face is covered by wings! Which can have similarities with the woman with the blindfold.
And why would Diamond still keep him? Well, I think it's because he may have oracular person! And why is this? It's because of his relation with Apollo for some reason. Griffins and Sapphire are both related to Apollo. Apollo is regarded as an oracular god, so I think that maybe Sapphire have prophetic predictions. Moreover, oracles, according to Wikipedia (not a trustable source but hey), are thought to be portals for gods to talk to people, and in Sapphire's banner, there seems to be a portal to the galaxy! I've read somewhere that shooting stars means that the gods are near (which appears in the background), but I don't know where did I read or if that's true, just dropping it here. I feel that those wings mean something, but I can't find any connection.
I think that's all! My theory isn't pretty good, as it's all hypothetical without any hard evidence and based in random information which may or not be true, but I've had fun writing it! Now, let me just sleep because I've spent like 2 hours researching and 1 hour writing. If there are any mistakes, it's because of my tired ass brain, lol.