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Like most of the cabinet he's a hardcore Brexitoid without an actual principle to be found. Just smart enough to know when to shut up, just dumb enough to think he could be the next PM.
I'd also agree with >>90259 's suggestion that Grayling's a far more miraculous political survivor, he's had half-a-dozen major cock-ups and has all the charisma of a notably dour tapeworm, yet somehow he remains. Perhaps he's such a loathsome freak he's kept around specifically to throw under a bus in case of full scale shit storm, his shiny dome acting as a lightning rod for a flurry of swift kicks while the others run for cover.