Only the punch, Schradinger. The rest, his advancment and current stance remians valid, no matter what. Punching is just a response to what seems like the most likely reaction to Meats' forwards dash: he never saw his opponent posses any other sort of weapon, so it would be safe for him to assume that David could attack with the sword, as it is his only means of keeping Meats at a distance. Morever, while Meats were walking towards him, David could've already taken a battle stance.
Given that so far he had taken every opportunity to attack, he would suspect that David already knows of his preference for an offesive battle style and will use the sword to halt Meats' advance, putting him in a disadvantegous position. Using it as a trap, on the other hand, seems unlikely to Meats, as that would mean letting him attack the unarmed David at close range, where he could easily achive dominiance by simply not giving his opponent enough time to draw a weapon. Any retreat would only give him a chance to re-claim his sword while David arms himself, so luring him just for that would simply be a waste of time.
That is why he Meats expects his opponent to swing, and readies a punch to counter at the slightest indication of it.