“Edward Mordrake (Part 2)” finds Freak Show wallowing in the sort of dull, meaningless outlandishness that usually sets in right around the halfway mark of any given season of American Horror Story. Creators Ryan Murphy and Brad Falchuk seem to forget that if everything is “shocking” and “subversive,” then nothing is, as there’s no contrast between conventionality and deviation to produce the sort of dramatic friction that’s necessary to sustain something like 95 percent of all fiction. The problem with American Horror Story writ large is that there’s never any patience exhibited, never any sense of shocks being actively prepared for. For a few episodes, this speed-freakiness doesn’t necessarily matter, as TV shows are obviously playing the long game and need to instill in the viewer a notion of the stakes from the outset. But it’s becoming clear that there aren’t any stakes in Freak Show, and that the characters, who are barely characters, are going to say and do things whenever it’s convenient, because Murphy and Falchuk can’t ever be bothered to construct a coherent scenario with which to govern their admittedly impressive sense of atmosphere.