Jack gave Hurley the baptism while the golden shower was off. So Jack was powerless. And the water was cloudy and off at that point. How could Jack give his role at that moment to Hurley if he was powerless?
you're presuming the magic water powered jacob and the smoke monster equally. i can't say that it didn't, but there's nothing to say it did. instead, i'm assuming it removed the smoke monster's invincibility, the island's stability, and alpert's youth. ability.
whether or not it made jake less of a jacob or mortal or whatever, i dunno. but it didn't remove him of his role, which was protector of the island, which he was free to pass on to hugo. it's a one-to-one, willing negotiation.
again, i can't say for certain what the rules or limits of the transaction are, but there's no reason to suspect anything other than what we saw.
or, if it helps, a wizard did it.
